Cava Group price target raised to $175 from $118 at Stifel

Stifel analyst Chris O’Cull raised the firm’s price target on Cava Group (CAVA) to $175 from $118 and keeps a Buy rating on the shares after the comapny reported “another solid top-to-bottom beat” in Q3 with comps well above the firm’s estimates and the Street mean. The company raised its same-restaurant sales growth and AEBITDA guidance for the year and provided some initial targets for 2025, notes the firm, which says it was “pleased to learn the company felt confident enough about the new unit pipeline and returns to target a net unit growth rate above its long-term target of 15%+,” adding that it agrees with the company’s plans to reinvest any improved leverage in team members and guests.