Cava Group price target raised to $105 from $70 at Argus

Argus analyst Christine Dooley raised the firm’s price target on Cava Group to $105 from $70 and keeps a Buy rating on the shares. The company recently reported Q1 results that topped expectations and from a technical standpoint, the shares have been in a bullish pattern of higher highs and higher lows since October, the analyst tells investors in a research note. The firm believes Cava’s continued innovation will drive sales, especially as consumers seek out protein menu options. Argus thinks the company’s plans to open new stores offer investors an opportunity.