Cava Group price target raised to $115 from $93 at Citi

Citi analyst Jon Tower raised the firm’s price target on Cava Group to $115 from $93 and keeps a Neutral rating on the shares following the Q2 report. Cava continues to benefit “from being in an almost singular category that is hard to replace at home,” while also combining growing brand awareness, effective marketing, and execution into a “best-in-class” same-store-sales that remained free cash flow positive for the second quarter in a row, the analyst tells investors in a research note. The firm says that while it is “hard to poke holes in the fundamental story,” the stock’s valuation reflects this, “leaving little room for error.”