KeyBanc initiated coverage of Cava Group (CAVA) with an Overweight rating and $100 price target. Cava is the leading brand in the fast growing Mediterranean fast casual segment with few direct competitors, the analyst tells investors. The firm believes Cava has the potential to define the category and bring Mediterranean to new markets across the country like Chipotle (CMG) did over the last two decades with the Mexican segment, the analyst added.
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