Cava Group jumps after raising outlook on strong demand

CAVA

20/05/2026 09:20

** Shares of restaurant chain Cava Group CAVA.N rise 7% to $83.56 in premarket trading

** Co raised its annual sales and core profit forecasts, citing strong demand for healthy, affordable Mediterranean food

** Now projects same-restaurant sales for fiscal 2026 to increase between 4.5% and 6.5%, compared with its earlier estimate of 3%-5% growth

     ** Jefferies says momentum is continuing into Q2, with same-store sales running above the upgraded full-year guidance and strong demand despite a challenging backdrop

** At least four brokerages raise price targets post results, according to data compiled by LSEG

** 16 of 29 brokerages rate the stock "buy" or higher, 13 "hold"; their median PT is $92 - LSEG data

** As of last day's close, stock up 33% YTD

 (Reporting by Kanishka Ajmera in Bengaluru)

 ((mail to: Kanishka.Ajmera@thomsonreuters.com))