Beyond Meat: Berenberg initiatiates with 'buy' rating
(CercleFinance.com) - Berenberg began coverage of the Beyond Meat share with a "buy" rating and a target price of 100 dollars, saying that the vegan burger maker is amongst the best positioned companies to benefit from the burgeoning plant-protein market.
In a note to clients, the German broker points out that the target market for plant-based meat is expanding beyond the traditional vegan and vegetarian consumer.
Berenberg says it expects this trajectory to continue as major food manufacturers enter the space and the category matures.
The broker has also started coverage of Conagra Brands and Maple Leaf Foods, albeit with less aggressive "hold" ratings.
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