UBS analyst Dennis Geiger maintains $Sweetgreen (SG.US)$ with a buy rating, and adjusts the target price from $37 to $45.
According to TipRanks data, the analyst has a success rate of 61.2% and a total average return of 7.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Sweetgreen (SG.US)$'s main analysts recently are as follows:
Sweetgreen's recent Q3 results were noteworthy for their solid performance, underscored by strong same-store sales growth. In addition, the upward revision of FY24 guidance and the robust development plans projected for 2025 are noteworthy highlights.
With Sweetgreen's shares increasing significantly year-to-date, it's assessed that the company now holds fair value. The Infinite Kitchen initiative remains a key element for long-term productivity and a factor in hastening unit expansion. However, it appears that the more immediate drivers influencing the near-term outlook have already been reflected in the current share price.
The analyst recommends purchasing shares of Sweetgreen on the recent decline, noting that sales met expectations while EBITDA slightly missed projections. They emphasize that both the short-term and extended outlook for the company remain promising.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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