First Watch Restaurant price target lowered to $18 from $21 at Barclays

Barclays lowered the firm’s price target on First Watch Restaurant (FWRG) to $18 from $21 and keeps an Overweight rating on the shares as part of a Q3 earnings preview for the restaurant group. Comps eased to start Q3 before stabilizing at lower levels, the analyst tells investors in a research note. The firm says that while all are vulnerable to a lower-income consumer, quick service’s value push has been effective. Otherwise, inflation and pricing continue to ease, adds Barclays.