Cava Group jumps on Q2 sales growth, profit beat
CAVA•Guidance and broker views
Cava projects same-restaurant sales growth of 4.5%-6.5%, adjusted EBITDA of $181 million to $191 million.
Jefferies says CAVA's decision to reiterate its full-year guidance despite strong Q2 was appropriately cautious given recent trends.
It adds that underlying momentum remains strong, with new-store volumes and customer traffic potentially paving the way for upside surprises.
Eighteen of 29 brokerages rate the stock "buy" or higher, 10 "hold," and 1 "sell" or lower; median PT is $95, according to LSEG-compiled data.
As of last close, the stock is up about 3.5% year to date.
Shares jump after Q2 beat
Shares of restaurant chain Cava Group CAVA.N jump nearly 10% to $67.09 premarket.
The company on Tuesday reiterated its annual forecast after beating Wall Street estimates for second-quarter sales and core profit, supported by strong demand.
