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Beyond Meat Expands Product Line With Breakfast Sausage Links

The links from Beyond Meat will be sold through October at select grocers.

Beyond Meat  (BYND) - Get Beyond Meat, Inc. Report has expanded its offerings with the introduction of Beyond Breakfast Sausage Links.

The links will be sold at select Kroger, Albertsons, Sprouts, Harris Teeter, Wegmans and Whole Foods Market stores through October at a suggested retail price of $5.99 for eight links. 

Beyond Meat shares rose 3.1% to $195.22 in trading Thursday following the announcement.

“With demand for plant-based breakfast options continuing to rise and more of us eating breakfast at-home, we knew the segment was ripe for innovation,” said Stuart Kronauge, Beyond's chief marketing officer.

The links are Beyond Meat's fourth new retail product of 2020, following the launch of Beyond Breakfast Sausage Patties, Cookout Classic and most recently, Beyond Meatballs. 

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The company's products are now available at about 26,000 retail locations across the U.S. thanks to its expansion, and according to data from SPINS Beyond Meat is the top-selling brand in all refrigerated plant-based meat. 

Earlier this week, analysts at Piper Sandler raised Beyond Meat's price target to $178 from $130 while keeping its rating at neutral. 

Analyst Michael Lavery noted a recent report in Vegan Food UK that the burger giant McDonald’s  (MCD) - Get McDonald's Corporation (MCD) Report was launching a vegan cheeseburger in the U.K. using Beyond Meat patties. The move presents a substantial revenue opportunity for Beyond Meat, the analyst said.

Analysts at Morningstar recently had a mixed take on the company. 

"While inflation in various meat cuts could make Beyond’s products more attractive on the basis of price, encouraging adoption, we aren’t blind to the fact that about half of Beyond’s products are sold in the food-service channel, with two-thirds of that from hard-hit dine-in formats,” said Morningstar analyst Rebecca Scheuneman.