Analysts’ Recent Ratings Updates for First Watch Restaurant Group (FWRG)

Several brokerages have updated their recommendations and price targets on shares of First Watch Restaurant Group (NASDAQ: FWRG) in the last few weeks:

• 10/21/2026 – First Watch Restaurant Group had its “buy” rating reaffirmed by Citigroup Inc..
• 10/16/2026 – First Watch Restaurant Group had its price target lowered by Raymond James Financial, Inc. from $20.00 to $18.00. They now have a “strong-buy” rating on the stock.
• 10/15/2026 – First Watch Restaurant Group had its price target lowered by Stephens from $21.00 to $18.00. They now have an “overweight” rating on the stock.
• 10/14/2026 – First Watch Restaurant Group was downgraded by Weiss Ratings from “hold (c-)” to “sell (d+)”.
• 10/2/2026 – First Watch Restaurant Group had its price target lowered by DA Davidson from $17.00 to $15.00. They now have a “buy” rating on the stock.
• 9/29/2026 – First Watch Restaurant Group was upgraded by Weiss Ratings from “sell (d+)” to “hold (c-)”.
• 9/14/2026 – First Watch Restaurant Group was downgraded by Weiss Ratings from “hold (c-)” to “sell (d+)”.
• 8/28/2026 – First Watch Restaurant Group was upgraded by Weiss Ratings from “sell (d+)” to “hold (c-)”.

First Watch Restaurant Group, Inc operates a chain of daytime restaurants specializing in breakfast, brunch and lunch. Its restaurants serve made-to-order meals prepared with fresh ingredients, including omelets, pancakes, avocado toast, salads, sandwiches and other contemporary daytime fare. The company also offers coffee, fresh juices and other beverages.

First Watch restaurants are designed around a daytime dining experience and generally operate during breakfast and lunch hours rather than offering dinner service.