Stock Market News

Mister Car Wash ‘well positioned for above-average share gains’ – Guggenheim

2023.06.29 11:54


© Reuters. Mister Car Wash (MCW) ‘well positioned for above-average share gains’ – Guggenheim

Mister Car Wash, Inc. (NYSE:) was initiated with a Buy rating and $11 price target at Guggenheim on Thursday.

The firm’s analysts told investors in a note that they have a constructive secular view. They “believe that accelerated ‘greenfield’ expansion of the superior ‘conveyorized format will create significant incremental demand while capital intensity and required local market density will drive consolidation within the channel.”

On MCW, the firm stated that it is “well positioned for above-average share gains.”

The analysts noted factors such as the company’s scale, well-regarded national brand, history of innovation, sizable membership program, and robust $2 million exterior express AUV as reasons they are bullish on the stock.

“Importantly, MCW has struck a better balance between efficiency and experience by utilizing data analytics to improve labor scheduling and reduce staffing by 6%, or one person per car wash, strengthening the case for eventual EBITDA margin expansion,” they added.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 69,473.61 0.48%
ethereum
Ethereum (ETH) $ 2,495.81 0.85%
tether
Tether (USDT) $ 0.999833 0.17%
bnb
BNB (BNB) $ 574.35 0.91%
solana
Solana (SOL) $ 166.31 0.83%
usd-coin
USDC (USDC) $ 1.00 0.11%
xrp
XRP (XRP) $ 0.511313 1.77%
staked-ether
Lido Staked Ether (STETH) $ 2,494.81 0.79%
dogecoin
Dogecoin (DOGE) $ 0.159254 0.34%
tron
TRON (TRX) $ 0.167232 0.11%
cardano
Cardano (ADA) $ 0.356278 2.77%
the-open-network
Toncoin (TON) $ 4.92 0.97%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,953.07 0.37%
shiba-inu
Shiba Inu (SHIB) $ 0.000018 0.94%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 69,364.58 0.27%
avalanche-2
Avalanche (AVAX) $ 24.68 1.43%
weth
WETH (WETH) $ 2,495.99 0.84%
chainlink
Chainlink (LINK) $ 11.19 1.32%
bitcoin-cash
Bitcoin Cash (BCH) $ 347.08 0.47%
usds
USDS (USDS) $ 1.00 0.40%
leo-token
LEO Token (LEO) $ 6.07 0.39%
polkadot
Polkadot (DOT) $ 3.90 1.21%
sui
Sui (SUI) $ 1.93 0.46%
litecoin
Litecoin (LTC) $ 70.61 2.64%
near
NEAR Protocol (NEAR) $ 3.94 1.04%
aptos
Aptos (APT) $ 8.71 2.71%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,625.13 0.46%
uniswap
Uniswap (UNI) $ 7.43 4.93%
pepe
Pepe (PEPE) $ 0.000009 1.96%
internet-computer
Internet Computer (ICP) $ 7.83 0.92%
bittensor
Bittensor (TAO) $ 456.54 2.00%
dai
Dai (DAI) $ 0.999773 0.14%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.21 4.71%
kaspa
Kaspa (KAS) $ 0.115552 2.36%
monero
Monero (XMR) $ 155.87 1.56%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.06%
stellar
Stellar (XLM) $ 0.092419 0.13%
ethereum-classic
Ethereum Classic (ETC) $ 18.36 0.30%
whitebit
WhiteBIT Coin (WBT) $ 18.96 0.36%
first-digital-usd
First Digital USD (FDUSD) $ 0.998749 0.33%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.31676 0.56%
blockstack
Stacks (STX) $ 1.59 0.80%
okb
OKB (OKB) $ 38.08 0.24%
dogwifcoin
dogwifhat (WIF) $ 2.20 4.83%
aave
Aave (AAVE) $ 141.09 1.50%
filecoin
Filecoin (FIL) $ 3.47 0.61%
arbitrum
Arbitrum (ARB) $ 0.518133 2.40%
crypto-com-chain
Cronos (CRO) $ 0.07305 0.53%
mantle
Mantle (MNT) $ 0.576028 0.39%
optimism
Optimism (OP) $ 1.50 6.32%