CAVA Group Analysts Boost Their Forecasts After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
CAVA Group, Inc. (NYSE:CAVA) reported better-than-expected first-quarter earnings and increased FY24 guidance. The company saw a 30.3% year-over-year revenue increase and raised its full-year sales and EBITDA forecasts. Analysts have subsequently boosted their price targets for CAVA.
May 29, 2024 | 12:29 pm
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CAVA Group reported strong Q1 earnings, beating both revenue and EPS estimates. The company raised its FY24 guidance, expecting higher same-restaurant sales growth and adjusted EBITDA. Analysts have increased their price targets for CAVA.
CAVA's strong Q1 performance and raised FY24 guidance indicate robust business momentum. The increase in price targets by multiple analysts suggests positive market sentiment, likely leading to a short-term price increase.
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