JP Morgan cuts target price to $85 from $90 for Cava Group, Inc.

JP Morgan has revised its price target for Cava Group, Inc. (NYSE: CAVA), lowering it to $85 from the previous $90, while maintaining a "Hold" rating on the stock. This adjustment comes amid mixed performance from the fast-casual Mediterranean restaurant chain, which has seen both strong earnings and revenue growth as well as slower-than-expected same-store sales in recent quarters.

Cava’s second-quarter 2025 results showed earnings per share and EBITDA exceeding Street estimates, with store-level margins in line with expectations. However, same-store sales growth fell short of analyst forecasts, prompting the company to revise its full-year outlook for same-store sales growth while maintaining its adjusted EBITDA guidance of $152 million to $159 million.

Despite the lower price target, JP Morgan continues to acknowledge Cava’s long-term growth potential, including its strong new unit economics, brand strength, and expansion opportunities. Analysts across the industry remain divided, with price targets from $63 to $175 as of August 2026. Other firms, including Stifel and Jefferies, have maintained or raised their price targets, reflecting ongoing confidence in Cava’s strategic initiatives and market positioning.

The stock has experienced significant volatility since its 2023 IPO, with a peak of $172 in November 2024 and a current price of approximately $99 as of August 2026. Investors will be watching Cava’s upcoming earnings report on May 28, 2025, for further insight into its operational and financial performance.