Cava Group downgraded to Hold from Buy at Argus

Argus analyst Christine Dooley downgraded Cava Group (CAVA) to Hold from Buy without a price target The company’s fundamentals are good but the stock’s valuation is “high” at current levels, the analyst tells investors in a research note. Argus adds that Cava’s traffic has “stalled” over the past few quarters. The company is lifting menu prices to make up for shortfalls in traffic, the firm adds.