Oppenheimer raised the firm's price target on Sweetgreen to $10 from $9 and keeps an Outperform rating on the shares after hosting management. The company is pleased with momentum from the national launch of wraps on May 6th, which has also established more approachable price points. When combined with operational improvements and easier comparisons, this creates a path for accelerating comparable sales over the next several quarters, the firm says. While shares are up 26% in the last two weeks, Oppenheimer believes a multi-quarter stretch of achieving estimates/guidance could begin restoring investor confidence in the story.
