5 Competitive Stocks

About a week ago, Morningstar's equity research team initiated coverage of one of this year’s most-discussed IPOs, Beyond Meat (BYND). Though the company is a pioneer in the plant-based meat industry, we don’t think it has carved out a competitive advantage. As such, we're not convinced that BYND can earn excess returns on its invested capital over the next decade, reports analyst Rebecca Scheuneman. We’ve assigned it a no-moat rating.

But our analysts have initiated coverage of several other companies lately that they think can earn excess returns over the next decade--we've assigned these companies narrow Morningstar Economic Moat Ratings. Here's a peek at some of those stocks. Most are fairly valued today according to our metrics.