Cava surges after annual sales forecast raise on steak, pita chips demand
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CAVA Group Inc (CAVA) PT Raised to $135 at Morgan Stanley, 'We remain EW mainly on valuation despite the continued positive elements of the story'
November 13, 2024 4:11 PM ESTMorgan Stanley analyst Brian Harbour raised the price target on CAVA Group Inc (NYSE: CAVA) to $135.00 (from $123.00) while maintaining a Equalweight rating.
The analyst comments "We are updating our CAVA model post-3Q earnings yesterday (see here for our thoughts on the quarter: 3Q24 First Take: Selling More Chips (the Non-AI Variety)); PT to $135 from $123, stay EW. Our 4Q SSS estimate moves up to +18.2% from +11.0% prior (pre-results Street at +11.3%) as we see stronger... More
CFRA Upgrades CAVA Group Inc (CAVA) to Buy
November 13, 2024 2:24 PM ESTCFRA analyst Arun Sundaram upgraded CAVA Group Inc (NYSE: CAVA) from Hold to Buy with a price target of $200.00 (from $125.00).
The analyst comments "We raise our 12-month target to $200 from $125, based on a blended valuation (110x 2026 EV/EBITDA; 14x 2026 EV/sales). We lift our... More
