What did Piper Sandler change on February 24, 2026 for FWRG?

Piper Sandler maintained an **Overweight** rating for First Watch (FWRG) and lowered its price target to **$19** from **$22**. This action was reported on February 24, 2026 and is recorded in the analyst feed noted by TheFly.

What does the Overweight rating mean for investors regarding the FWRG analyst rating?

Overweight in this context means the analyst expects FWRG to outperform its peers or benchmark over the next 12 months. The FWRG analyst rating signals relative confidence, but investors should compare the **$19** target to live market prices.

How should I use the FWRG price target in my decisions?

Use the **$19** price target as Piper Sandler's 12-month valuation view. Compare it to current trading prices, factor in your time horizon, and combine with company fundamentals and other analyst views before acting on the FWRG analyst rating.

How does Meyka interpret the FWRG analyst rating maintenance?

Meyka AI rates FWRG with a grade of **B** and sees the maintained Overweight as a sign of continued relative strength. We recommend monitoring further analyst notes and company results; this is analysis, not investment advice.

Analyst Ratings

Piper Sandler Maintains Overweight for FWRG First Watch Restaurant Group Feb 2026

ByHuzaifa Zahoor February 25, 2026February 25, 2026

Piper Sandler maintained an Overweight rating on First Watch Restaurant Group, Inc. (FWRG) on February 24, 2026, while lowering its price target to $19 from $22. The FWRG analyst rating update signals that Piper Sandler still expects First Watch to outperform peers despite trimming near-term upside. The action was reported by TheFly and coincides with a modest stock move of -2.14% (down $0.27) on the published note. Meyka AI tracks this coverage in real time as part of our AI-powered market analysis platform.