Sweetgreen upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler analyst Brian Mullan upgraded Sweetgreen to Overweight from Neutral with a price target of $19, up from $13. The analyst a “meaningful improvement in sentiment” in the coming months. Sweetgreen’s run-rate in sales have stabilized and should see an improved trajectory from here, the analyst tells investors in a research note. Meanwhile, the promise of the technology behind the Infinite Kitchen location “represents something that is truly idiosyncratic for investors to become enthused about,” says Piper. The firm sees Sweetgreen’s margins inflection and the narrative improving.