Sweetgreen ( (SG) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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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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