Tate & Lyle's share price plummeted by over six per cent on Monday morning following a rating downgrade by Morgan Stanley for the sugar behemoth.

The broker downgraded the stock to "underweight" from "equal weight", setting a 500p price target, as reported by City AM .

Morgan Stanley highlighted an increased risk to Tate & Lyle's mid-term targets after Tyson Foods announced plans to phase out sucralose from its US-branded products, suggesting that more consumer packaged goods could follow suit.

Tyson intends to eliminate the zero-calorie artificial sweetener and sugar substitute by the end of 2025, along with high-fructose corn syrup and titanium dioxide, in a bid to reduce additives.

"We continuously review and assess our product portfolio to ensure the highest quality products that

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