Piper Sandler raised the firm’s price target on Cava Group (CAVA) to $85 from $71 and keeps an Overweight rating on the shares following quarterly results. During the earnings call, management indicated that the Q1-to-date same-store sales are actually running above the 3.0% to 5.0% range, and with significantly easing compares ahead, Piper thinks the investment community will assume there is conservatism embedded in the guide.
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