CAVA Group Inc.'s stock took a hit of 6.93% in Thursday's trading session, plunging amidst analysts lowering their price targets for the company.
Loop Capital reduced its price target on CAVA to $100 from $147, while maintaining a "Hold" rating on the shares. The analysts cited CAVA's "imperfect" earnings report as the reason behind the downgrade.
Despite CAVA reporting strong earnings growth and positive insider ownership, investors appear to be concerned about the company's future prospects. The stock's sharp decline underscores the market's cautious sentiment towards CAVA's ability to sustain its impressive performance.
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