Why Sweetgreen Stock Bounced Back Today
After shares of fast-casual salad restaurant Sweetgreen (NYSE: SG) got tossed for a nearly 9% loss on Friday, they're bouncing right back today. Maybe not all the way, but they were up 8.8% as of 1 p.m. ET.
Friday's loss came after the company announced it had missed Wall Street's estimates for both sales and earnings, but investment bank Piper Sandler gave the stock an upgrade and higher price target today.
In a note covered on StreetInsider.com this morning, Piper Sandler analyst Brian Mullan upgraded the stock from neutral to overweight after the sell-off, and raised his price target on Sweetgreen nearly 50% to $19 a share.
Source Fool.com
