CAVA Group Inc (CAVA) PT Raised to $115 at Citi

Citi analyst Jon Tower raised the price target on CAVA Group Inc (NYSE: CAVA) to $115.00 (from $93.00) while maintaining a Neutral rating.

The analyst comments "CAVA continues to benefit from being in an almost singular category that is hard to replace at home, while also combining growing brand awareness, effective social/digital marketing, and execution into a best-in-class SSS story (with more discreet drivers ahead, including a loyalty relaunch in October) that remained free cash flow positive for the second quarter in a row. It’s hard to poke holes in the fundamental story and valuation reflects this, leaving little room for error as we head into a potentially choppier backdrop and, as a result, we remain on the sidelines."

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