Plant-based meat alternative maker Beyond Meat (NASDAQ:BYND) isn’t all it's cut out to be, analysts at Exane BNP Paribas (PA:BNPP) said on Monday.
The French research firm initiated coverage of the company with an underperform rating a price target of $70.
The stock slumped 4% in midday trade.
"While plant-based meats will grow rapidly, we believe that barriers to entry are negligible; we thus struggle to justify BYND's valuation," analysts noted.
