Analyst Simeon Gutman of Morgan Stanley maintained a Hold rating on Mister Car Wash (MCW – Research Report), boosting the price target to $9.00.
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Simeon Gutman has given his Hold rating due to a combination of factors that suggest a balanced risk and reward profile for Mister Car Wash. The company’s recent performance shows a positive trajectory with a notable improvement in comparable sales, partly driven by one-time weather impacts. However, the underlying growth remains a positive indicator, as the company experienced positive retail comps for the first time since early 2022.
Despite this upward momentum, the guidance for 2025 appears conservative, with potential upside in retail trends and membership growth possibly exceeding expectations. While there are risks associated with weather and consumer sentiment that could affect the top-line, these are deemed balanced. Overall, the cautious optimism about the company’s future prospects supports the Hold rating, with the price target raised to $9, reflecting this nuanced outlook.
In another report released yesterday, Stifel Nicolaus also maintained a Hold rating on the stock with a $8.50 price target.