Cava Group price target lowered to $107 from $115 at Morgan Stanley

Morgan Stanley analyst Brian Harbour lowered the firm’s price target on Cava Group (CAVA) to $107 from $115 and keeps an Equal Weight rating on the shares. With industry demand improved, the firm sees a likely better quarter for restaurants and food distributors than Q1, the analyst tells investors in a research note. Ongoing policy noise remains a risk but middle/upper income customer cohorts remain solid, and costs are mostly benign, the firm argues.