- Piper Sandler analyst Michael Lavery downgraded Beyond Meat Inc BYND to Underweight from Neutral with a price target of $29, down from $50, implying a 40.3% downside.
- The analyst is bearish on the company's key fundamentals, citing increasing competition.
- Lavery notes that the company continues to burn cash with no clear plan for a positive EBITDA.
- A nationwide McDonald's launch may not even have the headline impact he had expected.
- Price Action: BYND shares are trading lower by 5.14% at $46.13 in premarket on the last check Monday.
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