Cava Group price target raised to $55 from $48 at Stifel

Stifel analyst Chris O’Cull raised the firm’s price target on Cava Group to $55 from $48 and keeps a Buy rating on the shares. Cava posted stronger than expected sales and earnings for its first quarter as a public company, the analyst tells investors in a research note. The firm believes Cava warrants a premium valuation because of its AUV and unit count growth opportunity, as well as the potential for operating momentum to cause upward revisions to near-term estimates and long-term earnings potential.