JPMorgan lowered the firm’s price target on Cava Group (CAVA) to $95 from $115 and keeps an Overweight rating on the shares. The firm is more cautious on Cava, saying the company’s same-store-sales look to be softer than modeled as higher new unit volumes normally influence expected year two comp contribution. JPMorgan stays Overweight but acknowledges that the lack of near-term valuation support may provide a better entry point.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CAVA:
- Cava Group CEO sells $2.4M in common stock
- CAVA Group, Inc. Poised for Growth: Buy Rating Driven by Strategic Marketing and Innovation
- Stifel lowers Cava Group price target to $125, recommends buying on pullbacks
- CAVA Group, Inc.: Strategic Growth Initiatives and Market Expansion Present Long-term Buying Opportunity
- CAVA, TEM, or SMCI: Which Growth Stock Could Deliver the Highest Upside?