Citi analyst Jon Tower raised the firm’s price target on Cava Group (CAVA) to $140 from $115 and keeps a Neutral rating on the shares as part of a Q3 earnings preview. Although Cava’s valuation requires ongoing upside to numbers and a “very long duration growth story,” Citi expects unit, same-store-sales and EBITDA upside and pipeline of initiatives to continue to support shares, the analyst tells investors in a research note.
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