Cava's Stock Hasn't Been This Low Since Its IPO: Time to Buy the Dip?
Cava Group (NYSE: CAVA) was a hot stock when it first began trading in June. The excitement around its growth and the potential for the Mediterranean-style restaurant chain to be the next Chipotle Mexican Grill sent investors into a frenzy. On Aug. 2, the stock price reached a high of $58.10 -- 52% higher than the $38.15 it closed at on its first day. But the stock has given back those gains, and as of Monday's close, it hit a new low of $34.13.
Is this a case of an inflated stock simply coming back down to reality, or is this a business that's in trouble and whose valuation is likely heading further down in value?
According to the consensus analyst price target of nearly $50, the upside for the restaurant stock could be more than 40% from where it trades today. Even the lowest price target of $40 would suggest the stock is a good buy today.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
With 77 Buy predictions and 1 Sell predictions Chipotle Mexican Grill Inc. is one of the favorites of our community.
Based on the current price of 50.99 € the target price of 2357 € shows a potential of 4522.47% for Chipotle Mexican Grill Inc. which would more than double the current price.
