Sweetgreen upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley upgraded Sweetgreen to Equal Weight from Underweight with a $25 price target. The firm says that following a de-rating over the past month, the shares are now closer to a level justified by its current projections, making the risk/reward skew more balanced. Sweetgreen’s automation path and long term unit potential and profitability will likely remain near term stock drivers, with the catalyst path more likely positive than negative, the analyst tells investors in a research note. The firm believes the company’s Infinite Kitchen will be a positive in the near term as more examples roll out.