Sweetgreen downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs analyst Christine Cho downgraded Sweetgreen (SG) to Neutral from Buy with an unchanged price target of $40. With the shares up 273% year-to-date, Goldman believes Sweetgreen is fairly valued. While Infinite Kitchen continues to be a long-term driver of productivity and component of accelerated unit growth for the company, the more immediate catalysts in the near-term have been already priced in, the analyst tells investors in a research note.