Cava upgraded by Wedbush: What you need to know
Wedbush upgraded Cava (CAVA) to ""outperform"" from ""neutral"" and raised the stock's price target to $48 from $35. Wedbush Securities Managing Director Nick Setyan joins Yahoo Finance to discuss his note on Cava.
""Even if the worst case scenario comes to pass and let's say comp is down ... mid-single digits, I still think ... investors are going to buy this name because that means in the back half of '24, they're going to be comping mid-single digit plus positive inclusive of positive transaction growth,"" Setyan says.
Cava has ""proven that ... it is portable. It's worked across the country,"" Setyan adds. Additionally, ""year-over-year, for a number of years, they've been posting positive transaction growth, which for growth investors, is the holy grail.""
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