Despite the major indexes trading near their all-time highs, there are still plenty of stocks that JPMorgan is bearish on in the coming quarter. Stocks managed to pull off a record performance in September — despite the month being traditionally difficult for the market — after the Federal Reserve cut rates for the first time in four years. But stocks may not be in the clear just yet, as historical trends also show October as a choppy month for equities.
The downside to average price target is around 2%. "Longer term, the competitive landscape has changed, in our view, and structural profitability is lower than prior cycle," wrote Rehaut, who currently has an underweight rating on the stock. JPMorgan analyst Kenneth Goldman also has an underweight rating on Beyond Meat . Shares of the plant-based food producer have plunged 27% in 2024. "Plant-based meat continues to struggle as the fad fades," the analyst wrote.
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