Why Beyond Meat Stock Stumbled on Wednesday
Beyond Meat (NASDAQ: BYND) wasn't on the menu for many investors Wednesday. After a prominent investment bank cut its price target on the stock and issued a gloomy forecast on its future the previous evening, the company's shares closed the day nearly 4% lower in value.
The cutter was Goldman Sachs, in the person of analyst Adam Samuelson. He gave a serious trim to his Beyond Meat price target, which is now at $47 per share from the previous $74. Not surprisingly, Samuelson is reiterating his sell recommendation on the shares.
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Source Fool.com
