Restaurant chain Cava rises after lifting annual sales growth forecast
** Shares of Mediterranean restaurant chain Cava CAVA.N up 14% at $165.06 in extended trading
** CAVA lifts same restaurant sales growth target for 2024 to 12% to 13%, from 8.5% to 9.5% expected earlier
** Q3 revenue jumps 39% to $241.5 mln, beating estimates of $233.6 mln - LSEG
** Q3 same restaurant sales up 18.1%, with traffic up 12.9%
** Co also lifts target for net new restaurant openings and restaurant-level profit margin
** Now expects adjusted EBITDA between $121 mln to $126 mln, up from $109 mln to $114 mln expected earlier
** As of last close, stock up 243.9% YTD
Reporting by Juveria Tabassum and Christy Santhosh in Bengaluru
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