Salad chain Sweetgreen rises after TD Cowen upgrades to 'buy'

SWEETGREEN

04/09/2024 12:37

** Shares of restaurant chain Sweetgreen  SG.N  up 1.8% at
$29.80 premarket
    ** TD Cowen upgrades stock to "buy" from "hold", lifts PT to
$43 from $31
    ** Sweetgreen's robotic assembly line, called Infinite
Kitchens, could drive margins expansion from 2025, TD Cowen
analyst Andrew Charles says in a note
    ** Believes 5% same-store sales growth in 2025 is achievable
for the salad and grain bowls chain, driven by factors such as
steak launch in May 2024
    ** Also sees benefits to SG's sales from possible menu
innovations, as well as co's relaunch of its loyalty program in
Q1 2025
    ** YTD, stock up 159% as of last close

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))