Cava stock rises as first Wisconsin restaurant opens
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CAVA Group Inc. stock climbed 5.5% in morning trading on Wednesday, reaching an intraday high of $55.40, after the Mediterranean restaurant chain opened its first location in Greenfield, Wisconsin.
The opening represents the company's entry into its 31st U.S. state. CAVA announced that a second Wisconsin location is planned for Madison, continuing its expansion into the Midwest region. The company has stated a long-term target of operating 1,000 restaurants by 2032.
Bank of America Securities maintained its Buy rating on CAVA on Tuesday with a price target of $107. KeyBanc also holds a Buy rating on the stock with an $80 price target, issued earlier this week.
The company is scheduled to report its third quarter 2026 earnings on November 4. CAVA has previously exceeded revenue and profit estimates in past quarters.
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