Beyond Meat price target raised to $18 from $10 at Bernstein

Bernstein analyst Alexia Howard raised the firm’s price target on Beyond Meat to $18 from $10 and keeps a Market Perform rating on the shares following a "better than expected" Q4 earnings report and FY23 guidance. The analyst noted that sales of $79.9M was 5.5% above consensus expectations. Bernstein added that guidance also came in above expectations, and that Beyond Meat still expects to return to cash flow positive operations within the second half of 2023. Overall, Bernstein was "another cautiously more positive quarter, although the company is by no means out of the woods yet."