Sweetgreen price target raised to $40 from $36 at Oppenheimer

Oppenheimer raised the firm’s price target on Sweetgreen to $40 from $36 and keeps an Outperform rating on the shares after hosting investor meetings with management. The firm believes Sweetgreen has built a thoughtful strategic roadmap to sustain sales improvements and enable ongoing margin expansion, despite the challenged industry backdrop. This, along with the deployment of transformational and highly accretive “IK” technology, remains catalytic for more earnings revisions-a foundational pillar of Oppenheimer’s top pick thesis.