Beyond Meat price target lowered to $7 from $13 at BMO Capital

BMO Capital lowered the firm’s price target on Beyond Meat to $7 from $13 and keeps a Market Perform rating on the shares after its wider than expected Q3 earnings loss. The company continues adjusting to persistent U.S. category pressures that are weighing on the business trajectory relative to its expectations, the analyst tells investors in a research note. Beyond Meat is expected to continue facing challenges in terms of its sales trajectory and margin recovery, with pricing pivot introducing another layer of risk/uncertainty, the firm added.