BMO Capital lowered the firm’s price target on Beyond Meat (BYND) to $1 from $4 and keeps a Market Perform rating on the shares. The company’s Q4 revenue of $61.6Mm slightly missed consensus, while elevated operating expenses driven largely by non-routine charges and sales deleverage pressured EBITDA to a $69M loss, the analyst tells investors in a research note. BMO adds it is cutting its estimates reflecting ongoing soft sales trends and related margin pressures.
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