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Needham analyst Bernie McTernan downgraded Beyond, Inc. (NYSE:BYON) from Buy to Hold and removed the prior price forecast of $9.
The analyst suggests that the risk-reward for Beyond shares has become less favorable due to significant reductions in revenue estimates over the past six months.
While management has successfully cut costs and improved margins, the analyst adds that there was more unprofitable revenue than originally anticipated.
According to the analyst, the company is still expected to reach …
