Cava Group price target raised to $90 from $85 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Cava Group to $90 from $85 and keeps an Overweight rating on the shares. It is clear that restaurant demand generally slowed from the Q1 exit and there have been concerns that customers aren’t responding to the “summer of value,” the analyst notes in a restaurant group preview. Nothing fundamentally “seems to be falling off a cliff to us,” but the firm would expect more misses than beats this quarter and muted comments on recent trends, the analyst added.