Piper Sandler analyst Michael Lavery lowered the firm's price target on Beyond Meat (BYND) to $72 from $115 and keeps a Neutral rating on the shares.

The analyst expects near-term headwinds in Beyond's restaurant and food service channel, which represent 50% of its sales, from the COVID-19 outbreak. There are many uncertain variables in the current situation, Lavery tells investors in a research note.

However, Beyond Meat is an early leader in plant-based meat, which could be a $6B-$8B market by 2025, adds the analyst.