Cava Group price target lowered to $76 from $110 at Argus

Argus lowered the firm’s price target on Cava Group (CAVA) to $76 from $110 and keeps a Buy rating on the shares. Cava lowered its same-store sales growth estimates for the year, which the firm sees as “a more realistic calibration,” says the analyst, who believes bad news is priced in with shares down 40% year-to-date.