Sweetgreen shares are trading lower after Piper Sandler downgraded the stock from Overweight to Neutral and announced a $39 price target.
Portfolio Pulse from Benzinga Newsdesk
Sweetgreen shares declined following a downgrade by Piper Sandler from Overweight to Neutral, with a new price target set at $39.
August 19, 2024 | 2:24 pm
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NEGATIVE IMPACT
Sweetgreen's stock was downgraded by Piper Sandler from Overweight to Neutral, with a price target of $39, leading to a decline in share price.
The downgrade from Overweight to Neutral by a reputable analyst firm like Piper Sandler typically signals a less optimistic outlook, which can lead to a decrease in investor confidence and a drop in stock price. The specific price target of $39 provides a benchmark for investors, further influencing market sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100