BTIG analyst Peter Saleh downgraded Wingstop to Neutral from Buy without a price target. The analyst cites the 30% rally year-to-date and "sharply improved sentiment" following earnings yesterday for the downgrade. The firm expects Wingstop’s double-digit same-store sales momentum to continue into Q1, but sees the shares as fully valued and would wait for a better entry point. It "continues to be fans" of the company’s long-term story, but does not see enough upside to maintain a bullish view.
Published first on TheFly
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