Shares of First Watch Restaurant Group climbed nearly 4% on Wednesday after Freedom Capital analyst Lynne Collier initiated coverage with a buy rating and a $17 price target, implying more than 27% upside from the stock's most recent close. Collier called the company an up-and-coming leader in the breakfast segment, citing excellent returns and significant room for expansion. She also noted the stock appears notably undervalued, trading at a PEG ratio just over 0.7 following recent sell-offs. First Watch operates a chain of breakfast, brunch, and lunch restaurants and rotates its menu several times a year to highlight seasonal ingredients.
First Watch Restaurant Group IncAnalyst initiated with buy rating and $17 price target, citing undervaluation and growth potential.