Citi Starts First Watch (FWRG) at Neutral

First Watch (FWRG) Stock Gains on Positive New Coverage

October 26, 2021 9:43 AM EDT

Shares of First Watch Restaurant Group (NASDAQ: FWRG) are up 2.5% in todays trading session as Wall Street initiated research coverage on the company with mostly positive ratings.

At least 9 firms started research coverage today with seven initiating at Buy or equivalent. Analysts at Citi and Cowen opted to stay on the sidelines, citing premium valuations.

First Watch stock rose in its market debut following a successful IPO. Shares opened at $21 after the... More

Stifel Starts First Watch (FWRG) at Buy

October 26, 2021 8:32 AM EDT

Stifel analyst Chris O\'Cull initiates coverage on First Watch (NASDAQ: FWRG) with a Buy rating and a price target of $25.00.

The analyst commented, "We are initiating coverage of First Watch Restaurant Group, Inc. (FWRG) with a Buy rating and a $25 12-month target... More

Jefferies Starts First Watch (FWRG) at Buy

October 26, 2021 7:35 AM EDT

Jefferies analyst Andy Barish initiates coverage on First Watch (NASDAQ: FWRG) with a Buy rating and a price target of $30.00.

The analyst commented, "FWRG has strong brand appeal & unique daytime dining op model that, in our view, can generate best-in-class unit economics, solid margin profile,... More

Barclays Starts First Watch (FWRG) at Overweight

October 26, 2021 7:29 AM EDT

Barclays analyst Jeffrey Bernstein initiates coverage on First Watch (NASDAQ: FWRG) with a Overweight rating and a price target of $26.00.

The analyst commented, "We initiate coverage on FWRG with an Overweight rating & $26 price target. Based on its service platform, FWRG is a casual diner.... More

Piper Sandler Starts First Watch (FWRG) at Overweight

October 26, 2021 6:16 AM EDT

Piper Sandler analyst Nicole Miller Regan initiates coverage on First Watch (NASDAQ: FWRG) with a Overweight rating and a price target of $25.00.

For an analyst ratings summary and ratings history on First Watch... More

Guggenheim Starts First Watch (FWRG) at Buy

October 26, 2021 6:08 AM EDT

Guggenheim analyst Gregory Francfort initiates coverage on First Watch (NASDAQ: FWRG) with a Buy rating and a price target of $26.00.

The analyst commented, "We initiate on First Watch Restaurant Group (ticker FWRG) with a Buy rating and $26 price target, primarily based on a... More

BofA Securities Starts First Watch (FWRG) at Buy

October 26, 2021 6:06 AM EDT

BofA Securities analyst Sara Senatore initiates coverage on First Watch (NASDAQ: FWRG) with a Buy rating and a price target of $30.00.

For an analyst ratings summary and ratings history on First Watch click here. For more ratings news on First Watch click here.

Shares of First Watch closed at $21.48 yesterday.

... More

Cowen Starts First Watch (FWRG) at Market Perform

October 26, 2021 5:37 AM EDT

Cowen analyst Andrew Charles initiates coverage on First Watch (NASDAQ: FWRG) with a Market Perform rating and a price target of $21.50.

The analyst commented, "We believe in FWRG's ability to execute sales targets through a balanced playbook + proprietary survey data indicating growing consumer... More

Goldman Sachs Starts First Watch (FWRG) at Buy

October 26, 2021 5:36 AM EDT

Goldman Sachs analyst Jared Garber initiates coverage on First Watch (NASDAQ: FWRG) with a Buy rating and a price target of $26.00.

The analyst cited:

Broad TAM Opportunity, Limited National Competition: We see a long runway for unit growth for a unique dining... More