Cava Group price target raised to $163 from $140 at Citi

Citi raised the firm’s price target on Cava Group (CAVA) to $163 from $140 and keeps a Neutral rating on the shares. The company reported another beat and raise quarter while pointing to an accelerating new store opening cadence in 2025, the analyst tells investors in a research note. The firm says Cava continues to benefit from being in an almost singular category that is hard to replace at home, while also combining growing brand awareness.