CAVA Group Inc PT Raised to $92 at Baird By Investing.com

Baird analysts raised the price target on CAVA Group Inc (CAVA) to $92.00 (from $90.00) while maintaining an Outperform rating.

The analysts commented: “CAVA delivered another quarter of very strong operating results that included meaningful upside to EBITDA estimates on respectable comps performance (above published estimates, but perhaps below elevated buy-side expectations). Importantly, the tone related to current business momentum seemed quite positive, giving us confidence the company is well positioned to meet or exceed its raised 2024 guidance for comps/EBITDA. All in, we remain constructive on CAVA shares based on the company’s scarce long-term growth opportunity as well as the continued upward bias to near-term estimates.”