Piper Sandler analyst Brian Mullan upgraded Cava Group (CAVA) to Overweight from Neutral with a price target of $115, down from $142. The firm believes in the secular growth of fast casual, and says Cava is one of the best ways to invest in that trend. While the environment is “choppy,” this presents the opportunity in the shares following the recent selloff, the analyst tells investors in a research note. Piper points out that Cava shares are down 20% year-to-date and 33% this month.
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