BofA Securities raised CAVA Group's (CAVA) price target to $121 from $112 following the company's Q1 earnings report.

The bank highlighted that the company's modest same-store sales growth beat for Q1 was particularly notable as it was driven by increased traffic rather than pricing actions, analyst Sara Senatore wrote in a Monday note.

The brokerage considers the company's reiterated 2025 same-store sales growth guidance of 6-8% to be "conservative", citing performance from recent menu innovations and advertising efforts, with further upside potential from upcoming menu updates and the loyalty program.

CAVA has an average rating of overweight and mean price target of $118.46, according to analysts polled by FactSet.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

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