Is Cava Group Stock Going to $115? 1 Wall Street Analyst Thinks So.
Shares of Cava (NYSE: CAVA) have had a great run over the past year and hit an all-time high of $172 in late 2024. But in the past month alone, the stock has fallen 39% and trades near $87 as of this writing.Piper Sandler analyst Brian Mullen recently upgraded the stock to an overweight (buy) rating while lowering his firm's price target from $142 to $115. The updated price target, which usually represents an estimate of where the stock can trade in the next 12 to 18 months, still implies upside of more than 30%.Cava has a lot going for it that could make it a monster winner long term. It's putting up strong results with revenue increasing 33% in 2024. Besides new store openings, that strength also came from existing locations as same-restaurant sales increased 13% for the year and 21% year over year in the fourth quarter.Continue reading
Shares of Cava (NYSE: CAVA) have had a great run over the past year and hit an all-time high of $172 in late 2024. But in the past month alone, the stock has fallen 39% and trades near $87 as of this writing.
Piper Sandler analyst Brian Mullen recently upgraded the stock to an overweight (buy) rating while lowering his firm's price target from $142 to $115. The updated price target, which usually represents an estimate of where the stock can trade in the next 12 to 18 months, still implies upside of more than 30%.
Cava has a lot going for it that could make it a monster winner long term. It's putting up strong results with revenue increasing 33% in 2024. Besides new store openings, that strength also came from existing locations as same-restaurant sales increased 13% for the year and 21% year over year in the fourth quarter.
