Morgan Stanley Upgrades CAVA to Overweight, Raises Price Target to $90 on July 15

CAVA-0.46%
According to CNBC, Morgan Stanley upgraded Mediterranean fast-casual restaurant chain CAVA (NYSE: CAVA) to Overweight from Equal Weight on July 15, raising its price target to $90 per share from $86. Analyst Brian Haver cited CAVA as possessing "the strongest fundamentals in the restaurant industry," highlighting robust metrics including traffic growth, new store efficiency, and earnings visibility. Despite CAVA trading at valuations above 44x EV/EBITDA, Haver believes the company's innovative menu development and strong customer loyalty are sufficient to justify the premium.
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