Stifel Downgrades First Watch Restaurant Gr: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Stifel has downgraded First Watch Restaurant Group (NASDAQ:FWRG) from a previous rating to Hold, adjusting the price target from $22.00 to $20.00. Following the downgrade, FWRG shares have fallen 3.44% to $18.55. The new price target suggests a potential upside of 7.82% from the current share price. First Watch Restaurant Group operates daytime restaurants and earns revenue from restaurant sales and franchise fees.
January 04, 2024 | 5:00 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Stifel downgraded First Watch Restaurant Group to Hold and reduced the price target from $22.00 to $20.00. FWRG's stock price has decreased by 3.44% to $18.55, with the new target indicating a potential 7.82% upside.
The downgrade by Stifel to a Hold rating typically suggests a neutral outlook on the stock, indicating that the stock is adequately valued at its current price. The reduction in the price target may have contributed to the stock's recent decline, but the new target still implies a potential increase. The impact is likely to be short-term as the market absorbs and reacts to the new rating and price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100