Beyond Meat price target lowered to 80c from $2 at TD Cowen

TD Cowen analyst Robert Moskow lowered the firm’s price target on Beyond Meat (BYND) to 80c from $2 and keeps a Sell rating on the shares. The firm updated its model to reflect significant shareholder dilution resulting from the exchange offer of its convertible notes. The transaction reduces Beyond’s debt principal by 83% and increases share count by 413%. The company remains financially and operationally challenged.