Why I'm Changing My Mind About Cava Group Stock
Cava Group (NYSE: CAVA) stock has pulled back sharply since its successful initial public offering (IPO) in June. After quickly surging to more than double the original IPO price of $22 per share, the stock has lost more than 45% of its value in under two months -- leaving the stock at just over $30 a share.
That lower price has altered the value proposition of Cava Group stock. With a lower valuation and its expansion likely to continue, the stock deserves more serious consideration today.
As Cava is a fast-casual restaurant chain in rapid expansion mode, investors may want to compare it to Chipotle (NYSE: CMG), which has taken this concept to nearly every corner of the U.S. However, investors need to understand some key differences. First, Chipotle offers fast, healthy Mexican dishes, one of the most popular food types in the U.S.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
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Based on the current price of 45.78 € the target price of 2425 € shows a potential of 5197.65% for Chipotle Mexican Grill Inc. which would more than double the current price.
