Beyond Meat seen being in line for an extra $200M if McPlant goes national

Oct. 21, 2021 9:50 AM ETBeyond Meat, Inc. (BYND)By: Clark Schultz, SA News Editor

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  • BTIG estimates that a national launch of McPlant at more than 13K McDonald's locations could add as much as $200M in annual sales for Beyond Meat (BYND +0.6%). Analyst Peter Saleh notes that tally would boost BYND's top line by as much as 35%.
  • "While McDonald's claims to be testing the product in only eight restaurants to identify operational challenges, we believe the chances of a national rollout in 2022 is fairly high. We expect Beyond Meat to lean on its balance sheet, investing heavily behind advertising to promote the McPlant and ensuring healthy trial," updates Saleh.
  • Saleh and team keep a Neutral rating on BYND due to decelerating velocity in U.S retail, but notes the long-term upside if the national McPlant rollout is announced.
  • Shares of Beyond Meat (NASDAQ:BYND) trade below their 50-day, 100-day and 200-day moving averages.

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