Sell into the Beyond Meat frenzy, says one of its few analysts

Investors ought to steer clear of Beyond Meat due to weakening consumer demand for alternative meat products, analysts from Mizuho said after the stock rocketed higher earlier this week. The investment bank, which has an underperform rating on shares, lowered its price target for the animal-free meat company to $1.50 from $2.00, implying 50% downside. Beyond Meat once sold for almost $240 a share at the height of the meat alternative craze in the summer of 2019, after Goldman Sachs, JP Morgan and Credit Suisse brought it public at $25 a share in a May 2019 initial public offering. At one point in 2020, some 23 analysts on Wall Street covered Beyond Meat. Today, only eight do. One day last week, Beyond Meat shares sold for just 50 cents each. Cautious outlook "We hold a cautious outlook for