Sweetgreen price target raised to $45 from $35 at RBC Capital

RBC Capital raised the firm’s price target on Sweetgreen to $45 from $35 and keeps an Outperform rating on the shares after hosting its management for investor meetings. The discussion has left the firm with better understanding of growth and margins levers, along with higher confidence in Infinite Kitchen rollouts, the analyst tells investors in a research note. RBC adds that while Sweetgreen indexes more towards the high-end consumer while most of the spending softness has been primarily low- and middle-income consumers, their locations in less affluent geos continue to perform well.