RBC Boosts Sweetgreen Price Target to $11.00

Royal Bank of Canada has increased its price target for Sweetgreen (NYSE:SG) to $11.00 from $6.50, representing a potential upside of 32.59% from the stock's current price.

The firm maintains an 'outperform' rating on the stock and is not alone in its optimism, as six analysts have given Sweetgreen a 'buy' rating, compared to ten who hold a 'hold' rating.

Sweetgreen reported earnings per share of ($0.22) for the quarter, missing analysts' estimates by ($0.09), but revenue was up 3.8% year-over-year to $192.66 million.