Piper Sandler raised the firm’s price target on Cava Group (CAVA) to $142 from $100 and keeps a Neutral rating on the shares following the Q3 report. The Q3 same-store-sales result of up 18.1% was well ahead of consensus, and was punctuated by traffic growth of 12.9%, the analyst tells investors in a research note. The firm estimates have been revised higher for 2025 and 2026. However, at current levels, Piper finds Cava’s risk/reward as balanced.
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