On Nov 14, major Wall Street analysts update their ratings for $CAVA Group (CAVA.US)$, with price targets ranging from $150 to $200.
TD Cowen analyst Andrew Charles maintains with a buy rating, and adjusts the target price from $130 to $150.
Baird analyst David Tarantino maintains with a buy rating.
Stifel analyst Chris O`Cull maintains with a buy rating, and adjusts the target price from $118 to $175.
CFRA analyst Arun Sundaram initiates coverage with a buy rating, and sets the target price at $200.
Furthermore, according to the comprehensive report, the opinions of $CAVA Group (CAVA.US)$'s main analysts recently are as follows:
Cava Group's multi-regional success is solidifying its path to eventually achieve national scale, as evidenced by its third-quarter headline same-store sales growth of 18.1%, which surpassed even the highest industry expectations. The company's stock performance has consistently exceeded initial predictions.
Cava Group's third quarter outperformance is evident in its comparable sales, margin, and EBITDA figures. The expectations for the company's 2024 outlook have been elevated, with indications of mid-to-high teens comparable sales growth in the fourth quarter and a robust two-year stack ranging between 25% to 30%.
Cava Group has once again exceeded expectations and increased future projections during the latest quarter. The company is set to quicken its new store openings by 2025. The unique position of Cava in a category that is challenging to replicate for home consumption, along with its increasing brand recognition, continues to drive its success.
After reporting a strong performance across the board in Q3, with comparable sales surpassing both the company's own forecasts and the average market predictions, the company has uplifted its projections for same-restaurant sales growth and yearly AEBITDA. Furthermore, initial goals for 2025 were set forth. It was also noted with approval that the company showcased enough confidence in its new unit pipeline and returns to aim for a net unit growth rate that surpasses its longstanding objective of 15%+. The company's decision to reinvest any enhanced leverage back into its team members and customers was also met with agreement.
The firm expressed satisfaction with the sales-driven third quarter outperformance and the increased guidance for 2024, which is underpinned by tangible sales drivers, alongside enhancements in brand recognition and consumer contentment.
Here are the latest investment ratings and price targets for $CAVA Group (CAVA.US)$ from 4 analysts:
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