The stock is down 82 cents at $95.09.
From The Street, October 26:
Beyond Meat Stock Off; Credit Suisse Cuts Market-Share Outlook
Beyond Meat's 'revenue miss in Q3 reinforces our view' that the company 'is reaching market saturation faster than expected,' Credit Suisse says.
Beyond (BYND) - Get Beyond Meat, Inc. Report Meat shares fell Tuesday after Credit Suisse downgraded the plant-based meat company to underperform from neutral and slashed its price target to $75 from $123.
Credit Suisse analyst Robert Moskow was disappointed by Beyond Meat’s sales forecast last week.
“The revenue miss in the third quarter ($106 million guidance versus [previous] guidance of $120 million to $140 million) reinforces our view that Beyond Meat is reaching market saturation faster than expected and will miss its internal growth targets,” he wrote in a commentary cited by CNBC.
“The meat alternatives category still has potential upside for the next several years, but we are lowering our long-term forecasts for Beyond’s sales and market share.”....
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The market for faux meat is already saturated?
We'll just have to mandate the stuff.
