Mister Car Wash initiated with an Equal Weight at Stephens

Stephens initiated coverage of Mister Car Wash (MCW) with an Equal Weight rating and $8 price target Driven by a pressured consumer base, Mister Car Wash has seen a 7% decrease in revenue per store since Q1 of 2022, notes the analyst, who expects 1.5% comparable store sales growth and 4.4% EBITDA growth in 2025, noting that these forecasts are below Street estimates of 3.3% and 8.9%, respectively. The firm needs to see the return of retail customers before becoming more constructive, the analyst added.