Sweetgreen, the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst Anthony Trainor from Wells Fargo maintained a Buy rating on the stock and has a $19.00 price target.
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Anthony Trainor’s rating is based on the potential for Sweetgreen to improve its financial performance in the coming years despite current challenges. The recent transition of the CFO, while not ideal in the short term, brings in Jamie McConnell, whose experience at Chipotle could be beneficial for Sweetgreen’s strategic repositioning.
Despite a tough year with a significant drop in stock value and operational setbacks, Trainor sees limited downside at the current stock price and anticipates a recovery by 2026. The company’s efforts to innovate with new menu offerings and operational resets, alongside potential macroeconomic tailwinds, contribute to the optimistic outlook.
Trainor covers the Consumer Cyclical sector, focusing on stocks such as Sweetgreen, Dutch Bros Inc, and Shake Shack. According to TipRanks, Trainor has an average return of -3.0% and a 62.50% success rate on recommended stocks.