Cava Group price target raised to $74 from $65 at Wedbush

Wedbush raised the firm’s price target on Cava Group to $74 from $65 and keeps an Outperform rating on the shares. The firm’s Q1 checks point to same-store sales growth trending above consensus. Wedbush views Cava as one of a handful of publicly traded restaurants positioned to deliver positive annual transaction growth over the longer term, with realistic long-term revenue and unit growth targets. With improved near- and medium-term visibility, the firm also views current 2024 and 2025 same-store sales growth and EBITDA expectations as conservative.