Cava Group initiated with an Equal Weight at Morgan Stanley

Morgan Stanley analyst Brian Harbour initiated coverage of Cava Group with an Equal Weight rating and $43 price target. While the company’s fundamentals “should be strong out of the gate,” the next few years should indicate whether investors can underwrite the bull case needed for more substantial upside in the shares, the analyst tells investors in a research note. The firm says much of Cava’s growth is already priced into the stock.