Black Rock Coffee price target lowered to $26 from $28 at Raymond James

Raymond James analyst Brian Vaccaro lowered the firm’s price target on Black Rock Coffee (BRCB) to $26 from $28 and keeps an Outperform rating on the shares. Restaurant stocks have sharply outperformed year to date on a January comp rebound, optimism around an easier first-half setup, and significant short covering, despite expectations for mixed Q4 results due to softer demand, the analyst tells investors in a research note. Focus is shifting to early-2026 trends and guidance, with potential support from higher tax refunds and stable employment, balanced by uncertainties around GLP-1 usage, weather effects, and broader macro volatility, the firm says.