Beyond Meat price target lowered to $1.50 from $2 at Mizuho

Mizuho analyst John Baumgartner lowered the firm’s price target on Beyond Meat (BYND) to $1.50 from $2 and keeps an Underperform rating on the shares. The company has improved its balance sheet following last week’s convertible notes exchange, but at the expense of significant equity dilution, the analyst tells investors in a research note. Mizuho says “weak” category and company fundamentals warrant an Underperform rating on Beyond Meat.