JPMorgan Backs CAVA's Expansion Potential As Yum! Brands Plans Major Taco Bell, KFC Growth

The recent volatility in restaurant chain stocks has provided "some opportunities," according to JPMorgan.While consumer confidence data has dipped, resulting in consumers becoming more careful in their discretionary spending, total industry supply growth has remained "surprisingly resilient, up 12% from 3Q18 to 3Q24 for a CAGR of ~2%," analyst John Ivankoe said in the note.CAVA GroupIvankoe upgraded the rating for CAVA Group Inc CAVA from Neutral to Overweight, while establishing a price target of $110.CAV ...