Beyond Meat reinstated with a Market Perform at BMO Capital

BMO Capital analyst Andrew Strelzik reinstated coverage of Beyond Meat with a Market Perform rating and $16 price target, which implies approximately 10% upside. The company is a leader in the plant-based meat category but faces challenges in terms of sales trajectory and margin recovery, the analyst tells investors in a research note. The firm says its consumer survey work "underscores category adoption challenges."