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7 Food Stocks That Are Shaping the Future

The food market serves up plenty of opportunity for investors.

Bank of America estimates that the global food solutions market will be a $300 billion opportunity for investors by 2025. Advancements in plant-based protein, food delivery, farming, food ingredients, protein processors and animal health are just some of the many areas ripe for innovation. Unfortunately, Bank of America analysts say the valuations of popular future food stocks such as Beyond Meat (ticker: BYND) and GrubHub (GRUB) are extremely stretched at current levels. Still, plenty of future food stocks are trading at reasonable valuations for the long term. Here are seven future food stocks to buy, according to Bank of America.

Elanco Animal Health (ELAN)

Elanco Animal Health is one of the world’s largest producers of animal medicines and vaccines and has diversified exposure to different species, product classes and geographies. Food safety/animal health is one of eight future food megatrends Bank of America is watching. Elanco not only has significant exposure to livestock health but also should benefit from an increase in demand for pet medicine, especially in emerging markets, says analyst Michael Ryskin. Elanco’s recent acquisition of Bayer Animal Health should also help boost margins. Bank of America has a “buy” rating and $28 price target for ELAN stock.

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