THE WEEK THAT WAS, ENDING February 27th – biggest reporting week (16 companies) of quarter - lots of caution but only 2 rating downgrades – easy access here for conference call transcripts – click through yellow box on Home Page for over 60 write-ups, your “one stop shop”

REPORTED IN PRIOR WEEKS – No rating changes

However:

Restaurant Brands maintained Equal-Weight by 1 firm, Positive by 2 firms.

Maintained at Neutral were European Wax Center and Wendy’s.

Maintained Positively were Yum Brands, McDonald’s, Texas Roadhouse.

REPORTED IN THE WEEK THAT WAS: Domino’s, Planet Fitness, First Watch, Portillo’s, CAVA, Bloomin’ Brands, Driven Brands, Dine Brands, BJ’s, Red Robin, Krispy Kreme, Luckin Coffee, Papa John’s, Sweetgreen, Xponential Fitness, Shake Shack.

TWO DOWNGRADES: DRIVEN BRANDS FROM BUY TO NEUTRAL BY PIPER SANDLER CAVA GROUP FROM BUY TO HOLD BY ARGUS RESEARCH

Otherwise:

CAVA Group maintained at Neutral by 3 firms, Positive at 7 firms.

Shake Shack maintained at Neutral by 3 firms.

First Watch maintained Positively at 5 firms.

Sweetgreen maintained Neutral at 1 firm, Positive at 2 firms.

Papa John’s maintained Positively at 2 firms.

Planet Fitness maintained Positively at 2 firms.

BJ’s Restaurants maintained Underweight at 1 firm, Neutral at 1 firm, Buy at 1 firm.

Dine Brands maintained Neutral at 2 firms.

Bloomin’ Brands maintained Neutral at 1 firm.

Conference call transcripts are below for all companies reporting in prior weeks with ratings change (none), Reporting in THE WEEK THAT WAS: (Domino’s, Planet Fitness, First Watch, Portillo’s, CAVA, Bloomin’ Brands, Driven Brands, Dine Brands, BJ’s, Red Robin, Krispy Kreme, Luckin Coffee, Papa John’s, Sweetgreen, Xponential Fitness, Shake Shack), and Initiated Coverage (none).

Domino’s (DPZ)

Domino’s Pizza, Inc. (DPZ) Q4 2025 Earnings Call Transcript _ Seeking Alpha

Planet Fitness (PLNT)

Planet Fitness, Inc. (PLNT) Q4 2025 Earnings Call Transcript _ Seeking Alpha

First Watch (FWRG)

First Watch Restaurant Group, Inc. (FWRG) Q4 2025 Earnings Call Transcript _ Seeking Alpha

Portillo’s (PTLO)

Portillo’s Inc. (PTLO) Q4 2025 Earnings Call Transcript _ Seeking Alpha

CAVA Group (CAVA)

CAVA Group, Inc. (CAVA) Q4 2025 Earnings Call Transcript _ Seeking Alpha

Bloomin’ Brands (BLMN)

Bloomin’ Brands, Inc. (BLMN) Q4 2025 Earnings Call Transcript _ Seeking Alpha