Cava Group price target lowered to $35 from $40 at Loop Capital

Loop Capital analyst Alton Stump lowered the firm’s price target on Cava Group to $35 from $40 and keeps a Hold rating on the shares. The company reported “impressive” Q3 results, with EBIT margin that rose 340bps as higher comps and lower input costs more than offset wage inflation, the analyst tells investors in a research note. The positives of company being in the early stages of its unit growth story are already reflected in the stock’s current valuation however, the firm added.