Wingstop initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of Wingstop (WING) with an Overweight rating and $270 price target While a tough industry backdrop, weak first half of 2025 comps, and a “growthy” valuation multiple present near-term hurdles for the shares, there is a re-rate potential into “much easier” second half of 2025 compares, the analyst tells investors in a research note. The firm believes Wingstop has multi-year sales levers, “top tier” paybacks, and strong free cash flow. Wells recommends buying the recent pullback in the shares.