Health Care

Beyond Meat to start plant-based meats production in Europe next year

Beyond Meat to start plant-based meats production in Europe next year”

While Beyond Meat short sellers may have been hoping for a bevy of bad news, notes from the top analysts initiating coverage on the El Segundo, California-based startup were mostly neutral.

J.P. Morgan analyst Ken Goldman estimated the total addressable market for plant-based meat to be worth $100 billion in 15 years, with Beyond Meat taking a 5% share. A J.P. Morgan analyst, Ken Goldman, estimates that fueled by the younger, health-conscious consumer base, the market for plant-based meats could be worth Dollars 100 Billion in 15 years with Beyond Meat taking a 5% share.

JPMorgan delivered the strongest bull case of the day by initiating Beyond Meat with an Overweight rating, calling the company's upside "extraordinary" and projecting a 12-month price target of $97 a share.

"In other words, Beyond is not a startup that can sell a lot of product but make no money; it is a legitimate manufacturer that, in our view, has a clear path to bottom-line and cash flow success", he wrote.

Impossible Foods, another alternative meat company has been in the headlines for positive things such as sustainability.

Zandbergen started distributing Beyond's products, like the Beyond Burger and Beyond Sausage, across Europe a year ago, along with two other distributors.

That's compared with a 1.75 percent decline in traffic at the company's other restaurants elsewhere in the USA, said inMarket Insights, which analyzed location data of over 50 million Comscore-verified users.

'It's likely that this massive boost in foot traffic is due in large part to the fast food chain's new meatless option, ' it added.

Burger King can't have that in the European Union because the current GMO regulation forbids it.

Beyond Meat has surprised watchers and investors as they have risen in the business field as one of the most influential and sustainability-focused companies.

Beyond Meat's new production facility in the Netherlands, set up by meat distributor Zandbergen, will give it an edge over its competitors in Europe where the market for vegan "meats" is even younger than the United States.

Watch Beyond Meat trade live. Donald Thompson, McDonald's former CEO and COO, sits on Beyond Meat's board.

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