RBC Capital Just Raised Its Price Target on Sweetgreen (SG) Stock


  • Sweetgreen (SG) stock is heading higher on Friday with analyst coverage.
  • That includes an increased price target of $35 per share.
  • It also comes after the company announced plans to bring steak dishes to its stores.
SG Stock - RBC Capital Just Raised Its Price Target on Sweetgreen (SG) Stock

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Sweetgreen (NYSE:SG) stock is on the move Friday after getting a price target increase from RBC Capital.

This has RBC Capital increasing its price target for SG stock from $20 per share to $35 per share. That’s a potential 48.5% upside compared to the stock’s prior closing price. It’s also bullish next to the analyst consensus price target of $23.13 per share.

Investors will also note that the RBC Capital analysts maintained its “outperform” rating for Sweetgreen shares. To put that in perspective, analysts’ consensus rating for SG stock is a moderate buy based on eight opinions.

What’s Behind the SG Stock Price Target Increase?

Sweetgreen is getting praise from analysts after announcing plans to expand its steak offerings. This comes after the company conducted a successful test run of the steak dishes at its Boston locations. That will see these dishes come to locations across the U.S.

Also helping out SG stock today is the firm’s first-quarter earnings report. That includes revenue of $157.9 million, which came in better than the $154.21 million in revenue expected by Wall Street.

SG stock is up 40.1% as of Friday morning.

Investors who want even more of the most recent stock market stories will want to stick around!

We have all of the hottest market news worth reading about on Friday. Among that is what’s happening with shares of SoundHound AI (NASDAQ:SOUN), Zeekr (NYSE:ZK) and Progyny (NASDAQ:PGNY) stock today. All of that info is available at the following links!

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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