Cava Group price target raised to $53 from $35 at Loop Capital

Loop Capital analyst Alton Stump raised the firm’s price target on Cava Group to $53 from $35 and keeps a Hold rating on the shares. The company reported a “sharp” Q4 EBITDA and comps beat, driving a higher assumed enterprise value to expected 2024 EBITDA multiple of 65-times, the analyst tells investors in a research note.