Why analysts are calling Cava the next Chipotle
CAVA (CAVA) CNBC·2024-09-27 20:00
Fast-casual Mediterranean chain Cava has had an impressive year since going public in June 2023. It posted a profit in its first quarterly report, repeatedly beat Wall Street's earnings estimates and now boasts a more than $14 billion market cap, nearly 500% higher than its initial valuation. Now, Wall Street analysts see shades of another fast-casual success story: Chipotle Mexican Grill. In its most recent results for the second quarter of 2024, Cava bucked industry trends by posting same-store sales grow ...