Sweetgreen ( (SG) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
Sweetgreen’s stock has experienced significant declines recently due to cautious market sentiment towards the restaurant sector. Morgan Stanley analyst Brian Harbour has adjusted the price target for Sweetgreen from $32 to $28, reflecting a tempered outlook on the industry’s growth prospects, particularly given the slow recovery expected in 2024. The analyst maintains an Equal Weight rating, indicating a balanced view on the stock amid these challenges.
More about Sweetgreen
YTD Price Performance: 4.39%
Average Trading Volume: 2,725,973
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $3.88B
For further insights into SG stock on TipRanks’ Stock Analysis page.
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