BMO Capital analyst Tristan Thomas-Martin lowered the firm’s price target on Mister Car Wash (MCW) to $9 from $11 and keeps an Outperform rating on the shares after its Q2 earning miss. The quarter was negatively impacted by unfavorable weather and ongoing macro headwinds on the consumer, while EBITDA was pressured by investments in repair and maintenance, the analyst tells investors in a research note. BMO adds however that Mister Car Wash is poised to benefit from a more rational industry backdrop and its own self-help initiatives.
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