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. 分析師Jim Salera首次覆蓋股票——First Watch Restaurant Group, Inc. (納斯達克:FWRG)，評級爲超配，並預測股價爲$20。
According to the analyst, First Watch is a frontrunner in daytime dining, specializing in breakfast, brunch, and lunch prepared with fresh ingredients.
據分析師稱，First Watch在白天餐飲領域居於領先地位，專門提供使用新鮮配料準備的早餐、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.
菜單的特色包括由大廚主導的時尚季節菜餚，迎合健康意識強的食客和追求現代高檔早餐體驗的人，Salera強調。
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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.
分析師預測年度營收增長在兩位數低位，由10%以上的單位增長和低個位數的同店銷售推動。
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強調，First Watch有實現超過2200個國內門店的可行途徑，兩個分析方案表明潛在上升空間分別爲2475個和2398個門店。
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This outlook suggests sustained growth of over 10% compared to the casual dining industry's low single-digit growth.
該展望表明，與休閒餐飲行業低個位數增長相比，持續增長將超過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.
分析師預測FY24調整後的EBITDA爲10890萬美元，每股調整後的EPS爲0.30，略低於共識預測的11090萬美元和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.
至於FY25年，預測包括每股調整後的EPS爲0.43美元，調整後的EBITDA爲12900萬美元，相比之下，街道預期爲0.42美元的EPS和12640萬美元的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.
與此相反，分析師警告稱，近期挑戰的消費宏觀環境可能會影響營業收入，導致同店銷售達到長期預期的下限。此外，颶風彌爾頓可能會帶來額外挑戰。
Price Action: FWRG shares are trading higher by 7.84% to $16.14 at last check Thursday.
股價走勢：FWRG股份週四最後交易日最新報價爲16.14美元，漲幅爲7.84%。
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