TD Cowen cuts Sweetgreen to 'hold' on same store sales

SWEETGREEN

01/07/2025 11:25

** TD Cowen downgrades salad chain Sweetgreen SG.N to "hold" from "buy" rating, citing same store sales challenges

** Brokerage says chances of SG's return to normalized same store sales is low in 2026

** "The company's concentrated urban presence remains pressured and sees limited relief from intensified competition & plateaued return to office dynamics" - TD Cowen

** TD Cowen says SG will likely not get credit for Infinite Kitchens, a robotic assembly line technology, until same store sales improve

** Brokerage cuts PT to $15 from $25

** Seven of 14 brokerages rate the stock "buy" or higher, seven "hold"; their median PT is $22 - data compiled by LSEG

** As of last close, stock down ~53.6% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)

 ((Prakhar.srivastava2@thomsonreuters.com))