Beyond price target lowered to $19 from $26 at BofA

BofA analyst Curtis Nagle lowered the firm’s price target on Beyond (BYON) to $19 from $26 and keeps a Neutral rating on the shares. Revenue and EBITDA missed Street forecasts and management rescinded its target of $2B in run-rate sales by the end of FY24, notes the analyst, who questions “Does Beyond have too much on its plate?” The firm thinks inconsistent execution may now be the top risk from here, with Beyond trailing peers like Buy-rated Wayfair (W) that delivered better-than-expected Q1 results and Q2 guidance, the analyst added.