Monro upgraded to Overweight from Equal Weight at Stephens

Stephens upgraded Monro (MNRO) to Overweight from Equal Weight with a price target of $18, down from $21. Since Monro’s announcement of the boards’ appointment of Peter Fitzsimmons on March 31 and tariff announcements, shares have decreased 9%, notes the firm. While stating “we are stepping into the name a little early,” the analyst now believes a noisy upcoming quarter is baked into the current valuation and continues to expect a recovery in tire volumes and a stabilization of EBITDA in fiscal Q3 of FY26, which is now less than a year away. The company’s depressed valuation “may increase the possibility of a takeout,” the analyst added.