Baird raised the firm’s price target on Cava Group to $90 from $72 and keeps an Outperform rating on the shares. The firmsaid although the stock has had a big run and is due for a breather, they are stretching their valuation assumptions based on prospects for the company to deliver strong fundamental performance throughout 2024,potentially contributing to further upward revisions to near-term estimates, and to show scarce growth characteristics for many years to come.
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