Mizuho Starts Mister Car Wash Inc. (MCW) at Buy, 'Small Cap Top Pick'

Mizuho analyst David Bellinger initiates coverage on Mister Car Wash Inc. (NYSE: MCW) with a Buy rating, PT$11.00.

The analyst comments "We view Mister Car Wash as one of the more compelling multi-year growth opportunities within our group. MCW is well on its way to regaining momentum after fighting through an increasingly competitive sector backdrop, and largely avoiding the "growth at all costs" playbook of peers. We are attracted to the high revenue visibility from 2M+ monthly paying members (>70% of revenues), low variable costs attached to the express car wash model, and potential to ultimately double its store footprint. The implementation of a super premium Titanium 360° wash package serves as a coming catalyst enabling comp and margin acceleration ahead. Initiate Buy and $11 PT. MCW is our Top Small Cap Pick."

For an analyst ratings summary and ratings history on Mister Car Wash Inc. click here. For more ratings news on Mister Car Wash Inc. click here.

Shares of Mister Car Wash Inc. closed at $7.36 yesterday.

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