UBS lowered the firm’s price target on Sweetgreen (SG) to $35 from $45 and keeps a Buy rating on the shares. The firm thinks Sweetgreen remains a compelling long-term growth story, despite near-term headwinds pressured Q1 trends, with multiple initiatives in place to reaccelerate same-store sales and drive shares higher over the coming quarters, the analyst tells investors in a research note. UBS thinks improving SSS trends should drive a valuation recovery, while its long-term growth levers remain intact.
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