Sweetgreen price target raised to $17 from $16 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Sweetgreen to $17 from $16 and keeps an Underweight rating on the shares. While stating “another solid quarter likely pushes the stock higher,” the firm says the company may well run ahead of its guided comp and revenue range this year with steak just launched nationally, and protein plates, throughput, and new store performance increasingly contributing to the story. However, the firm thinks “this would have to happen to continue to support the stock from here” and prefers to “watch to see how it evolves” as longer term questions drive its Underweight view.