CAVA sinks after annual sales growth target cut

** Shares of restaurant chain CAVA Group CAVA.N tumble 22.72% to $65.30 in premarket trading

** Co lowers annual same-store sales growth target for the first time since its IPO two years back

** Expects FY same-restaurant sales growth between 4% and 6%, below its prior 6%-8% target

** Co's Q2 same-store sales grows 2.1%, below estimated 6.47%, per data compiled by LSEG

** Reports Q2 revenue of $280.6 mln, below estimates of $285.6 mln

** CEO Brett Schulman says economic uncertainties weighing on consumer confidence, weakening demand for dining out in the past few months

** Economic uncertainties have also weighed on earnings from other restaurant chains, Chipotle Mexican Grill CMG.N and Sweetgreen SG.N

** Thirteen of 19 brokerages rate the stock "buy" or higher, and 6 "hold"; their median PT is $96.5 - LSEG

** Up to last close, stock down over 25% YTD