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Shares of fast-casual salad chain Sweetgreen (NYSE: SG) were moving higher today as the company got a bullish note from a Wall Street analyst. The stock was up 4.5% at 1:50 p.m. ET.
It likely goes without saying, but returns for Sweetgreen stock absolutely dwarfed the otherwise impressive 14.5% gain for the S&P 500. ... then today's price will eventually be seen as a bargain.
The firm also raised its price target to $17, up from its previous price target of $9. The new price target reflects a 30% increase from its stock price at the time the note was published ($13.40).
Sweetgreen stock gave up some gains to end the year. Sweetgreen was a high-growth business when it went public, but its losses were too much for investors' liking. These 3 Stocks Tripled in 2024.
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Sweetgreen (legally Sweetgreen ... 2021, traded under the New York Stock Exchange symbol SG. ... This growth was primarily attributed to price increases across its menu.
Shares of Sweetgreen plunged more than 20% in extended trading Tuesday after the salad chain lowered its 2022 forecast.
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