Cava Group price target lowered to $71 from $100 at Piper Sandler

Piper Sandler lowered the firm’s price target on Cava Group (CAVA) to $71 from $100 and keeps an Overweight rating on the shares following quarterly results. On the earnings conference call, management spoke to a quarter-to-date moderation in trend, which while not shocking given everything the firm has heard this earnings season, probably won’t help the stock, particularly if it is carried forward into the first part of next year, Piper says.