Stephens believes First Watch Restaurant (FWRG) shares should be “up meaningfully today” after the company “sizable beats” to consensus estimates on Q3 same-store sales, store development, and adjusted EBITDA. The firm, which is also “encouraged” by the increased FY25 sales outlook and bolstered adjusted EBITDA guidance, has an Overweight rating and $24 price target on the shares.
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Read More on FWRG:
- First Watch Reports Strong Q3 2025 Financial Results
- First Watch Restaurant reports Q3 EPS 5c, consensus 7c
- First Watch Restaurant sees FY25 revenue growth of 20.0%-21.0%
- First Watch Restaurant Group, Inc. (FWRG) Q3 Earnings Cheat Sheet
- First Watch Restaurant price target raised to $24 from $22 at BofA