Cava Group price target raised to $140 from $115 at Citi

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.