JPMorgan analyst John Ivankoe raised the firm’s price target on Cava Group to $90 from $77 and keeps a Neutral rating on the shares. The company’s “multi-regional success continues to support eventual national scale,” with the Q2 headline same-store-sales of 14.4% underpinned by 9% traffic coming in well above expectations, matched with stronger than modeled new store productivity, the analyst tells investors in a research note. However, JPMorgan is “not chasing stock performance here, and instead would revisit lower.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CAVA: