Cava Group price target raised to $148 from $125 at Baird

Baird raised the firm’s price target on Cava Group (CAVA) to $148 from $125 and keeps an Outperform rating on the shares. The firm sees opportunity for the upcoming Q3 report to represent another beat/raise event that supports confidence in the fundamental outlook heading into 2025. Baird said they would exercise patience in putting new money to work in CAVA in the short run and look for pullbacks to get more aggressive.