CAVA Group shares are trading lower after JP Morgan downgraded the stock from Overweight to Neutral and announced a $77 price target.
Portfolio Pulse from Benzinga Newsdesk
CAVA Group shares are trading lower after JP Morgan downgraded the stock from Overweight to Neutral and announced a $77 price target.
June 03, 2024 | 3:11 pm
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NEGATIVE IMPACT
CAVA Group shares are experiencing a decline following JP Morgan's downgrade from Overweight to Neutral, accompanied by a $77 price target.
The downgrade from a major financial institution like JP Morgan typically leads to a negative market reaction. The new price target of $77 suggests a more cautious outlook, contributing to the stock's decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100