TD Cowen Upgrades First Watch (FWRG) to Buy

TD Cowen analyst Andrew Charles upgraded First Watch (NASDAQ: FWRG) from Hold to Buy with a price target of $22.00 (from $21.00).

The analyst comments "We see a favorable risk/reward as we expect 2025 to be an improved year of SSS from more effective and higher levels of marketing, while there are signs 2024 headwinds are dissipating. We see a clear path to adj. EBITDA upside with egg prices already well off early March highs. Longer term, we expect shares to benefit from consistent MT% adj. EBITDA growth with room for multiple expansion."

For an analyst ratings summary and ratings history on First Watch click here. For more ratings news on First Watch click here.

Shares of First Watch closed at $16.65 yesterday.

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