First Watch Restaurant price target raised to $22 from $18 at Barclays

Barclays raised the firm’s price target on First Watch Restaurant (FWRG) to $22 from $18 and keeps an Overweight rating on the shares. The company’s Q3 margin and EBITDA upside was outsized, while comp was a modest shortfall, both similar to Q2, the analyst tells investors in a research note. The firm says the in-store dining comp returned positive to exit Q3.