TD Cowen analyst Andrew Charles maintains $CAVA Group (CAVA.US)$ with a buy rating, and adjusts the target price from $130 to $150.
According to TipRanks data, the analyst has a success rate of 60.2% and a total average return of 13.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $CAVA Group (CAVA.US)$'s main analysts recently are as follows:
The ongoing multi-regional success of Cava Group is seen as a strong indicator of its potential to achieve national scale. This is evident in the company's Q3 headline same-store-sales growth of 18.1%, which surpasses the high-end estimates. The stock's performance has consistently surpassed expectations.
The company's Q3 performance surpassed expectations regarding comparable sales, margins, and EBITDA. All aspects of the company's 2024 guidance were elevated, suggesting an implied comparable sales increase in the mid-to-high teens for Q4, alongside a substantial two-year stack growth.
Cava Group's recent performance exceeded expectations, and the company indicated an increasing pace of new store openings projected for 2025. The company appears to be enjoying a unique market position that is challenging to replicate for at-home dining, coupled with an increase in brand recognition.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
