Cava Group price target raised to $85 from $68 at Morgan Stanley

Morgan Stanley analyst Brian Harbour raised the firm’s price target on Cava Group to $85 from $68 and keeps an Overweight rating on the shares. A “clean, much stronger bottom line quarter” and raised fiscal year guidance point to continued trend strength, though the long-term debates are not likely to change now, says the analyst, who continues to see a “mostly positive near term catalyst path” following Cava’s earnings report.