Beyond Meat (BYND) Stock: $60 Price Target And Market Perform Rating

By Amit Chowdhry ● Feb 26, 2022
  • The shares of Beyond Meat Inc. (NASDAQ: BYND) have received a $60 price target from BMO Capital. These are the details.

The shares of Beyond Meat Inc. (NASDAQ: BYND) have received a $60 price target from BMO Capital. And BMO Capital analyst Kenneth Zaslow is maintaining a Market Perform rating on the shares.

“First, Beyond Meat’s 4Q21 underlying EPS of ($1.27) fell far short of the consensus of ($0.70) as moderating retail growth, fewer shipping days, and the acceleration of investments more than offset stronger foodservice growth (i.e., ramping up with key QSR customers),” wrote Zaslow in a research note. “Second, Beyond Meat introduced its 2022 sales outlook of $560-620 million with the midpoint of the range lower than the consensus estimate of $611 million, while it expects gross margins to remain well below normalized levels again in F1Q22 driven by short-term higher manufacturing and logistics costs.”

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