Piper Sandler analyst Brian Mullan maintains $CAVA Group (CAVA.US)$ with a hold rating, and adjusts the target price from $92 to $142.
According to TipRanks data, the analyst has a success rate of 66.3% and a total average return of 15.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $CAVA Group (CAVA.US)$'s main analysts recently are as follows:
The continued multi-regional success of Cava Group is seen as underpinning its potential to achieve national scale. This is evidenced by the company's Q3 headline same-store sales growth of 18.1%, which surpasses even the highest estimates on the street. The company's stock performance has consistently exceeded expectations.
The company surpassed expectations in Q3 across comparable sales, margin, and EBITDA. It was noted that all aspects of the company's 2024 guidance were elevated, indicating an implied comparable sales increase in the mid-to-high teens for Q4, which represents a 25%-30% growth on a two-year basis.
Cava Group has been acknowledged for delivering another quarter surpassing expectations, coupled with a promising increase in the pace of new store openings anticipated in 2025. The company's unique market position, which is challenging to replicate for at-home experiences, along with its rising brand recognition, has been beneficial.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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