Sweetgreen downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Brian Harbour downgraded Sweetgreen to Equal Weight from Overweight with a price target of $11, down from $21. The analyst is stepping to the sidelines amid a focus on unit growth visibility, new unit performance, margins, cash generation/self-funding, value proposition and potential category/sales defensiveness in the sector, Harbour tells investors in a research note.