1 Wall Street Analyst Thinks Cava Stock Is Going to $70. Is It a Buy? [Yahoo! Finance]
CAVA Group, Inc. (CAVA)
Company Research
Source: Yahoo! Finance
Dooley upgraded Cava to "buy" on Wednesday and assigned a $70 price target to the stock. That price target represents potential upside of about 16%. Rapid-fire growth Cava enjoyed same-restaurant sales growth of 11.4% in the fourth quarter of 2023. This helped fuel overall revenue growth of 36%, while revenue at Cava locations soared 53% (conversions of Zoe's Kitchen locations were responsible for the discrepancy). The company opened 19 new locations in the fourth quarter, bringing its total restaurant count to 309. For 2024, the company expects to increase its restaurant count by 48 to 52 locations while generating same-restaurant sales growth between 3% and 5%. Dooley's buy thesis ultimately boils down to valuation. The analyst is optimistic about Cava's ability to continue growing in the long run, and she sees the stock as cheap relative to fast-casual giant Chipotle Is Cava stock a buy? While Cava stock may be less pricey than Chipotle, that's not saying much. Based on
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CAVA
Earnings
- 2/26/24 - Beat
CAVA
Sec Filings
- 4/29/24 - Form ARS
- 4/29/24 - Form DEFA14A
- 4/29/24 - Form DEF
- CAVA's page on the SEC website