Restaurant Chain Cava Is 'Positioned To Sustain Positive Transaction Growth,' Analyst Says
Portfolio Pulse from Vandana Singh
CAVA Group Inc. (NYSE:CAVA) reported a 30.3% increase in first-quarter revenue to $256.3 million, beating estimates. Quarterly earnings of $0.12 also surpassed expectations. Wedbush maintains an Outperform rating, raising the price target from $74 to $90, citing positive transaction growth and strong long-term prospects.
May 29, 2024 | 6:57 pm
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CAVA Group Inc. reported a significant increase in first-quarter revenue and earnings, beating analyst estimates. Wedbush raised its price target to $90, citing strong transaction growth and long-term prospects.
CAVA's strong financial performance and positive analyst outlook are likely to boost investor confidence, driving the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100