This Restaurant IPO Stock Has More Than 100% Upside, According to Wall Street. And It's Not Cava.
In July, Mediterranean restaurant chain Cava Group (NYSE: CAVA) went public and within days soared to a $5 billion valuation. Two weeks later, while Cava was still basking in the limelight, another promising restaurant chain went public with little fanfare: Korean BBQ concept GEN Restaurant Group (NASDAQ: GENK).
Overshadowed by headline-grabbing Cava, GEN Restaurant stock has languished somewhat since going public, and shares now trade below their offering price of $12. But there's a lot to like about this restaurant company. And maybe that's why it has more upside than Cava, at least according to Wall Street.
With Korean BBQ, diners cook Korean-style cuts of meat on their own at their tables, which can make for a fun, differentiated experience. As of the second quarter of 2023, GEN Restaurant Group had only 34 locations, all of which were company-owned. But these restaurant locations generate high revenue and profits.
Source Fool.com
