UBS downgraded Sweetgreen (SG) to Neutral from Buy with a $7.50 price target The company’s long-growth potential remains, but near-term pressure will limit its recovery visibility. UBS believes Sweetgreen’s store traffic and sales will take time to inflect positively amid macro pressures and its challenged customer cohorts.
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Read More on SG:
- Sweetgreen Finalizes Spyce Sale and Strategic Refocus
- Cautious Hold Rating for Sweetgreen Amid Leadership Transition and Strategic Uncertainties
- Sweetgreen co-founder, chief brand officer Nathaniel Ru to retire
- Sweetgreen downgraded to Equal Weight from Overweight at Wells Fargo
- Sweetgreen price target raised to $8 from $7 at RBC Capital