Forget Beyond Meat: Here's a Better Growth Stock for 2024
There's a long list of reasons why an investor might want to avoid Beyond Meat (NASDAQ: BYND) stock right now. The plant-based meat specialist's sales are falling and there's no clear pathway back to sustainable profits as we approach 2024. Price cuts aren't helping spark more demand for its products, and innovative new releases haven't boosted sales by much, either.
Better options are available for investors seeking growth in the packaged foods space. PepsiCo (NASDAQ: PEP) is a great example heading into 2024. Let's look at some compelling reasons to buy the snack and beverage giant's stock right now.
Don't let Pepsi's maturity fool you into thinking it can't generate solid sales growth. Revenue in the first three quarters of 2023 rose at a double-digit rate, improving to $64 billion from $58 billion a year earlier. The company's most recent earnings report showed a solid 9% increase in organic sales, which stands in contrast with Beyond Meat's 9% decline.
Source Fool.com
PepsiCo Inc. Stock
PepsiCo Inc. is currently one of the favorites of our community with 16 Buy predictions and no Sell predictions.
With a target price of 178 € there is a slightly positive potential of 11.72% for PepsiCo Inc. compared to the current price of 159.32 €.
