Wingstop downgraded to Neutral from Outperform at Wedbush

Wedbush downgraded Wingstop to Neutral from Outperform with a price target of $185, down from $240. While the firm sees little risk to near-term unit growth expectations, the chicken wing cost outlook has turned unfavorable and the magnitude of wing cost increases will dictate the magnitude of franchisee pricing, which could turn into a transaction growth headwind and could cap out-year net unit growth, the analyst tells investors.