CAVA Group shares are trading higher after the company reported better-than-expected Q2 financial results and raised its FY24 adjusted EBITDA guidance. Also, multiple firms raised their respective price targets on the stock.
Portfolio Pulse from Benzinga Newsdesk
CAVA Group shares surged following the release of strong Q2 financial results and an upward revision of its FY24 adjusted EBITDA guidance. Additionally, several firms increased their price targets for the stock.
August 23, 2024 | 11:39 am
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CAVA Group's stock price increased due to better-than-expected Q2 results and an upward revision of FY24 adjusted EBITDA guidance. Multiple firms also raised their price targets for the stock.
The positive Q2 financial results and the raised FY24 EBITDA guidance indicate strong company performance, which is likely to boost investor confidence. The increase in price targets by multiple firms further supports a positive outlook for the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100