RBC Capital lowered the firm’s price target on Sweetgreen (SG) to $7 from $13 and keeps an Outperform rating on the shares. The company had a tough Q3 which was below a low bar coming in as SSS missed by 298 bps and the implied Q4 guide is 830 bps below consensus at the midpoint, with younger consumers and the northeast and LA markets seen as “particularly challenged”, the analyst tells investors in a research note.
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Read More on SG:
- Sweetgreen price target lowered to $10 from $18 at Oppenheimer
- Sweetgreen downgraded to Sell from Neutral at Goldman Sachs
- Sweetgreen price target lowered to $7.75 from $9.50 at BofA
- Sweetgreen price target lowered to $9 from $12 at Piper Sandler
- Sweetgreen’s Strategic Adjustments Amidst Financial Challenges: A Hold Rating Perspective