Beyond price target lowered to $6.50 from $7.25 at Jefferies

Jefferies lowered the firm’s price target on Beyond (BYON) to $6.50 from $7.25 and keeps a Hold rating on the shares after chairman Marcus Lemonis officially assumed the principal executive officer role and after CFO Adrianne Lee was named president as well. Incremental fixed cost reductions of $15M were also announced, putting a spotlight on management’s commitment to profitability, though the exact timing remains a question mark, the analyst tells investors in a research note. The firm maintained a Hold rating with cash at roughly 70% of market cap.