Sweetgreen price target lowered to $39 from $43 at Citi

Citi analyst Jon Tower lowered the firm’s price target on Sweetgreen (SG) to $39 from $43 and keeps a Buy rating on the shares following the Q4 report. The scope of Sweetgreen’s Los Angeles and East Coast exposure meant a compounding impact from the fires and weather, with planned launches getting pushed out to the March timeframe, the analyst tells investors in a research note. However, the firm says the company’s updates on its core long-term drivers were all positive. Citi sees a compelling risk/reward from here for the shares.