First Watch Restaurant price target raised to $23 from $22 at Piper Sandler

Piper Sandler raised the firm’s price target on First Watch Restaurant (FWRG) to $23 from $22 and keeps an Overweight rating on the shares following quarterly results. Overall, the firm would say the quarter was about in-line with expectations, and there were some encouraging comments given on the call around management’s recent targeted marketing efforts, as well as a return to positive dining room traffic in September.