Cava Group price target raised to $115 from $114 at Citi

Citi analyst Jon Tower raised the firm’s price target on Cava Group (CAVA) to $115 from $114 and keeps a Neutral rating on the shares. The company’s Q1 results and 2025 guidance are “positive standouts” at a time when many fast casual concepts posted disappointing comps and negatively revised sales outlooks, the analyst tells investors in a research note. However, Citi says this is the first period where Cava has not raised its fiscal year expectations for comp growth. The high-end of the company’s’ 2025 EBITDA guidance now matches the Street, meaning the positive earnings revision cycle “may be on pause,” the firm says.