Cava Group price target lowered to $38 from $48 at Citi

Citi lowered the firm’s price target on Cava Group to $38 from $48 and keeps a Neutral rating on the shares ahead of the Q3 report. The firm believes Cava’s long-term story remains intact but sees some risk that higher-income customers shifted spend from everyday routines to travel in August and September, which it says presents some risk to Q3 sales.