First Watch Poised To Reach Its Goal Of Over 2,200 Domestic Locations Despite Tough Macro Conditions, Says Analyst
First Watch Poised To Reach Its Goal Of Over 2,200 Domestic Locations Despite Tough Macro Conditions, Says Analyst
Stephens & Co. analyst Jim Salera initiated coverage on First Watch Restaurant Group, Inc. (NASDAQ:FWRG), with an Overweight rating and a price forecast of $20.
Stephens & Co. 分析师Jim Salera首次覆盖股票——First Watch Restaurant Group, Inc. (纳斯达克:FWRG)，评级为超配，并预测股价为$20。
According to the analyst, First Watch is a frontrunner in daytime dining, specializing in breakfast, brunch, and lunch prepared with fresh ingredients.
据分析师称，First Watch在白天餐饮领域居于领先地位，专门提供使用新鲜配料准备的早餐、早午餐。
The menu's specialty includes chef-driven, trendy, and seasonal dishes that cater to health-conscious diners and those seeking a modern, upscale breakfast experience, Salera highlights.
菜单的特色包括由大厨主导的时尚季节菜肴，迎合健康意识强的食客和追求现代高档早餐体验的人，Salera强调。
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The analyst forecasts annual revenue growth in the low double digits, driven by over 10% unit growth and low single-digit same-store sales.
分析师预测年度营收增长在两位数低位，由10%以上的单位增长和低个位数的同店销售推动。
Salera underscores that there is a viable path for First Watch to achieve its target of over 2,200 domestic units, supported by two analysis scenarios indicating potential upside to 2,475 and 2,398 units, respectively.
Salera强调，First Watch有实现超过2200个国内门店的可行途径，两个分析方案表明潜在上升空间分别为2475个和2398个门店。
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This outlook suggests sustained growth of over 10% compared to the casual dining industry's low single-digit growth.
该展望表明，与休闲餐饮行业低个位数增长相比，持续增长将超过10%。
The analyst projects FY24 adjusted EBITDA of $108.9 million and adjusted EPS of $0.30, slightly below consensus estimates of $110.9 million and $0.32.
分析师预测FY24调整后的EBITDA为10890万美元，每股调整后的EPS为0.30，略低于共识预测的11090万美元和0.32。
For FY25, the forecast includes adjusted EPS of $0.43 and adjusted EBITDA of $129.0 million, compared to the Street's expectations of $0.42 EPS and $126.4 million EBITDA.
至于FY25年，预测包括每股调整后的EPS为0.43美元，调整后的EBITDA为12900万美元，相比之下，街道预期为0.42美元的EPS和12640万美元的EBITDA。
Conversely, the analyst cautions that a challenging consumer macro environment in the near term could impact revenue, resulting in same-store sales hitting the lower end of the long-term expectations. Furthermore, there may be additional challenges posed by Hurricane Milton.
与此相反，分析师警告称，近期挑战的消费宏观环境可能会影响营业收入，导致同店销售达到长期预期的下限。此外，飓风弥尔顿可能会带来额外挑战。
Price Action: FWRG shares are trading higher by 7.84% to $16.14 at last check Thursday.
股价走势：FWRG股份周四最后交易日最新报价为16.14美元，涨幅为7.84%。
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