From Nasdaq: 2024-04-13 12:40:00

Chipotle Mexican Grill (NYSE: CMG) has been a huge success, with its stock up over 4x in the last five years and over 130x from its IPO price in 2006. A new contender, Mediterranean fast-casual restaurant Cava Group (NYSE: CAVA), is aiming to follow in Chipotle’s footsteps. Cava ended 2023 with 309 locations and plans to reach 1,000 by 2032. It uses a strategy similar to Chipotle, with a focus on coastal states and the Sun Belt, but has room for growth. Cava’s stock price is high, with a forward P/E ratio of nearly 275x, but it shows potential for further growth.



Read more at Nasdaq: Could Cava Be the Next Chipotle? 3 Ways the Companies Are Similar.