Cava Stock Climbs as JPMorgan Recommends ‘Taking Advantage’ of Recent Slide | Global News Avenue

Kava Group (Kava) Stocks rose on Thursday after the fast casual restaurant chain’s stock upgraded from JPMorgan analysts, which is expected to grow as Cava expands its locations.

The stocks surged nearly 5% on Thursday to close at $84.66, although even with Thursday’s earnings, they lost more than 40% of their value since December’s record-high closing price of $150.88.

JPMorgan analysts said they “recommended to take advantage of a major pullback in Cava stock” and raise its rating to a “neutral” “overweight” with a target price of $110, calling it “buy now and own long-term” stock.

Analysts say they see Cava continue to expand its “important” space for its current 367 locations, with the goal of 1,000 locations by 2032 to 2032 likely exceeding the location “far beyond” the location. The company said In its time Initial Public Offer (IPO).

It can be seen that the consensus target target of Alpha tracked analysts is slightly higher than JPMorgan’s target, at about $126, indicating that compared with Thursday’s levels, although well below the stock’s December high.