Beyond Meat price target lowered to $5 from $6 at Mizuho

Mizuho lowered the firm’s price target on Beyond Meat to $5 from $6 and keeps an Underperform rating on the shares. In August, financial conditions among low-income households remained net negative and comparable to April, but material erosion emerged among the $50,000-$100,000 cohort, the analyst tells investors in a research note. The firm says risks have also likely risen for higher income consumers from stock market volatility and election season uncertainty. Mizuho is cautious on the risk/reward for Beyond Meat shares given continued volume declines in the plant-based meat category and the company’s continued market share losses.