Beyond Meat price target raised to $10 from $7 at BMO Capital

BMO Capital raised the firm’s price target on Beyond Meat to $10 from $7 but keeps a Market Perform rating on the shares. The company’s Q4 revenue topped estimates, even though its EBITDA fell below consensus owing to weaker gross margins and non-cash charges, the analyst tells investors in a research note. Beyond Meat is taking appropriate steps in right-sizing cost structure, though the strong stock price reaction “disconnected from reasonable valuation assumptions”, the firm added.