Cava Group price target raised to $90 from $73 at TD Cowen

TD Cowen raised the firm’s price target on Cava Group to $90 from $73 and keeps a Buy rating on the shares. The firm is pleased with 1Q results and its continued underlying momentum that manifested in 15% raised 2024 adj EBITDA guidance at the midpoint. They are bullish on the company’ s playbook to grow mix and traffic in 2024 and beyond that includes a roll-out of steak in June and loyalty refresh in late 2024.