BofA raised the firm’s price target on Cava Group (CAVA) to $121 from $112 and keeps a Buy rating on the shares. The company’s modest Q1 same-store sales growth beat was “made more impressive by its traffic-driven nature,” the analyst tells investors in a post-earnings note. The firm maintains its FY25 same-store sales growth estimate at 7.4% as it incorporates stronger traffic growth, offset by lower mix, the analyst noted.
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