Beyond Meat price target lowered to $7 from $12 at Jefferies

Jefferies analyst Kaumil Gajrawala lowered the firm’s price target on Beyond Meat to $7 from $12 and keeps a Hold rating on the shares as the analyst took over coverage. Soft demand trends are not yet responding to innovation, promotions and marketing while costs are being reduced, but “trying to stoke demand and right-size operations at the same time is difficult,” the analyst tells investors.