Beyond Meat (BYND) Stock: $10 Target From BofA

By Amit Chowdhry ● Aug 23, 2022
  • The shares of Beyond Meat (BYND) recently received a $10 price target from BofA. These are the details.

The shares of Beyond Meat (BYND) recently received a $10 price target from BofA. And BofA analyst Peter Galbo is maintaining an “Underperform” rating on the shares.

Galbo adjusted the rating while noting that the company’s second-quarter results were worse than the estimates and the 2022 sales outlook was lowered. The FY 2022-2024 estimates were also lowered following the results.

Galbo also applied a multiple on the 2023 sales estimate that is a discount to target multiples used for growth-oriented and/or unprofitable peers within consumer staples.