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Barclays double downgrades Beyond Meat, says meat supply chain has bounced back

A staff member displays a burger with a Beyond Meat plant-based patty at VeggieWorld fair in Beijing, China November 8, 2019.

Jason Lee | Reuters

(This story is for CNBC Pro subscribers only). 

Barclays analysts said in a note to clients that it is time to stick Beyond Meat in the freezer after a strong first half to the year for the alternative meat pioneer. 

The firm downgraded the alternative meat stock by two notches, to underweight from overweight, saying in a new note that the business will be hurt in the near-term by the continuing pandemic.

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