Shares of Beyond Meat (BYND) are down after reporting 1Q22 earnings. The rate of cash burn is very concerning, and slowing sales, increased competition and rising costs make it a precarious position for a company to be in, says Brian Holland of Cowen. Cowen lowered their price target to $26 from $42 but maintains a market perform rating on BYND. Food service is not developing as quickly as expected, says John Baumgartner of Mizuho. Mizuho lowered their price target to $21 from $35. Tune in for the full discussion with Nicole.
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