Beyond Meat started at neutral with $85 stock price target at UBS

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DuPont says its nutrition & biosciences business got a boost from plant-based meat demand

One of the hottest food trends featured in the earnings of specialty chemicals company DuPont de Nemours Inc. on Thursday. The company said it’s nutrition & biosciences (N&B) business saw a boost in food and beverage volumes driven by gains in specialty proteins from growing demand for plant-based meats. On the company’s earnings call with analysts, Chief Operating Officer Marc Doyle said the company’s plant-based meat business is “relatively small today,” but that it is expected to grow in the double digits. Alternative meat has become a big business in the U.S., as companies’ like Beyond Meat Inc. and Impossible Meat are introducing their products at more restaurants and fast-food outlets, as well as on grocery shelves. DuPont’s N&B business is just one of four business segments, along with electronics & imaging, transportation & industrial and safety & construction. DuPont shares were up 1% Thursday, but have fallen 13% in 2019, while the S&P 500 has gained 21%.

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