Cava Group's High Revenue Growth Attracts Analyst Praise, Stocks Jumps 10%
Portfolio Pulse from Priya Nigam
Shares of Cava Group Inc (NYSE:CAVA) rose by almost 10% during early trading on Monday, following its successful IPO last month. The company has high average unit volumes and a 44% revenue CAGR in the five years through 2022. Analyst Sharon Zackfia from William Blair initiated coverage of Cava Group with an Outperform rating, predicting that the company could triple its number of locations by 2023.
July 10, 2023 | 2:34 pm
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Cava Group's stock price rose following positive analyst coverage and high revenue growth. The company's expansion plans could further boost its stock price.
The positive analyst coverage from William Blair, coupled with the company's high revenue growth and expansion plans, has led to a rise in Cava Group's stock price. If the company successfully triples its number of locations by 2023 as predicted, this could further boost its stock price.
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