BofA Securities analyst Curtis Nagle downgraded Beyond Meat (BYON) to ‘Underperform’ from ‘Neutral’, citing concerns about the company’s struggling turnaround efforts. While Beyond has reduced costs and transitioned to an asset-light model, revenue declines persist, and the analyst questions the effectiveness of partnerships with struggling retailers. Despite efforts to revive its three brands, customer affinity remains tied to marketing and promotions, raising doubts about near-term improvement.