RBC Capital analyst Logan Reich lowered the firm’s price target on Sweetgreen (SG) to $13 from $25 and keeps an Outperform rating on the shares. The company’s Q2 results were challenging as the miss and guide-down were “significant”, the analyst tells investors in a research note. Sweetgreen is one of the most discretionary occasions in the firm’s coverage and hence are likely more sensitive to consumer sentiment, RBC added.
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