Piper Sandler downgrades Beyond Meat, sees 40% downside ahead

In this photo illustration, a McDonald's McPlant Beyond Meat burger is displayed with french fries at a McDonald's restaurant on February 14, 2022 in San Rafael, California.
Justin Sullivan | Getty Images

Piper Sandler downgraded shares of alternative meat producer Beyond Meat, citing a lower-than-expected boost from its collaboration with McDonald's.