On August 6, CAVA Group Inc. fell 5.02% in regular trading, trading at $62.88 per share, with turnover of $78.79 million. The decline came as RBC Capital Markets significantly cut its price target on the stock and the broader restaurant sector experienced notable weakness ahead of the company's upcoming earnings report.

RBC Capital reduced its price target on CAVA Group Inc. from $105 to $90, a 14.3% cut, while maintaining its Outperform rating. The FactSet consensus mean target price for the stock stands at $92.77. The downward revision came just days before the company's scheduled August 11 post-market earnings release, where the market expects revenue growth of 26.17% year-over-year and EPS of $0.17.

The restaurant sector saw broad-based selling pressure on the session, with Dutch Bros plunging 17.85%, Chipotle Mexican Grill falling 2.96%, and Starbucks declining 1.12%. The previous session had seen CAVA Group Inc. surge over 5% on bullish analyst sentiment, making the reversal particularly sharp as investors adopted a more cautious stance toward elevated valuations ahead of the earnings window.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)