Jim Cramer backs Cava Group, UBS upgrades stock to Buy
Jim Cramer endorsed Cava Group on CNBC's Mad Money, calling it the best new concept and tasty, clean, and fun. UBS analyst Dennis Geiger supported this by upgrading the stock to Buy and raising the price target to $90. Cramer also advised speculating on ImmunityBio and Trulieve Cannabis, while recommending holding Ashland Inc., which received a raised price target from UBS.

*this image is generated using AI for illustrative purposes only.
Jim Cramer endorsed Cava Group, Inc. (NYSE: CAVA) on CNBC's "Mad Money Lightning Round," calling it the best of the new concepts. "I think there's something there for everybody. There really is. It's tasty, clean, fun," Cramer stated. Supporting this view, UBS analyst Dennis Geiger upgraded Cava Group from Neutral to Buy and raised the price target from $85 to $90 on June 10.
Rating and Target Changes
| Metric | New Value | Previous Value |
|---|---|---|
| Rating | Buy | Neutral |
| Price Target | $90 | $85 |
Cramer also discussed ImmunityBio, Inc. (NASDAQ: IBRX), suggesting it serve as a speculative position. "Let Immunitybio be your speculation," he advised, referencing his book "How to Make Money in Any Market." ImmunityBio presented Phase 3 study data for advanced non-small cell lung cancer at the American Society of Clinical Oncology Annual Meeting on June 1.
Regarding Trulieve Cannabis Corp. (NYSE: TRLV), Cramer described it as a "terrific spec." Trulieve became the first American marijuana company to list on a major U.S. stock exchange, with shares beginning trading on the NYSE under the symbol TRLV on June 10. The host recommended holding Ashland Inc. (NYSE: ASH), which UBS analyst Joshua Spector maintained with a Buy rating and a raised price target of $72 from $66 on June 10.
CAVA shares fell 2.5% to settle at $87.30 on Tuesday. Immunitybio shares fell 5.8% to close at $6.72. Trulieve Cannabis shares dipped 4.7% to close at $9.40, while Ashland shares declined 1.3% to settle at $64.56.
Will Cava Group sustain its growth momentum as it scales operations and faces increased competition in the fast-casual segment?
How might ImmunityBio's Phase 3 trial results influence investor sentiment and its stock performance in the coming months?
Could Trulieve's NYSE listing pave the way for broader institutional investment in the cannabis sector?

























