First Watch Restaurant price target raised to $24 from $23 at Stephens

Stephens raised the firm’s price target on First Watch Restaurant (FWRG) to $24 from $23 and keeps an Overweight rating on the shares after the company reported “strong” Q2 results. Following earnings, the firm remains “constructive on the setup,” citing First Watch’s steady unit performance, expanding market reach, and improving cost clarity.