Cava Group initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of Cava Group with an Overweight rating and $45 price target. While expectations are “super high,” they are a credit to the strength of the concept and the management team, the analyst tells investors in a research note. The firm believes Cava is a “unique concept and investment opportunity,” and it envisions a scenario where the stock can work higher from here, as the year progresses.