Mister Car Wash price target lowered to $8.50 from $9 at Stephens

Stephens lowered the firm’s price target on Mister Car Wash (MCW) to $8.50 from $9 and keeps an Equal Weight rating on the shares. Ahead of earnings due on April 30, the firm notes that its estimates point towards Q1 results being in line with the Street and that it sees multiple data points likely to drive optimism towards Q2. However, it remains on the sidelines as it waits to see the impacts of membership runoff from UWC Base Wash price increases and the return of one-time wash customers.