On October 9, CAVA Group Inc. rose 5.04% in regular trading, trading at $54.6101/share, with turnover of $136 million. The gain was driven by Melius upgrading the stock to Buy from Hold with a price target of $95, well above the FactSet consensus average of $87.51.
Within the Restaurants sector, Chipotle Mexican Grill gained 7.21%, McDonald's rose 2.82%, Yum Brands advanced 2.33%, DoorDash edged up 0.35%, while Starbucks fell 1.22%. CAVA Group owns and operates a chain of Mediterranean restaurants, offering salads, dips, spreads, toppings, and dressings through grocery stores and online ordering.
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