Wingstop price target lowered to $185 from $210 at Citi

Citi analyst Jon Tower lowered the firm’s price target on Wingstop to $185 from $210 and keeps a Neutral rating on the shares post the Q2 report. Sales drivers continued to win sales and traffic share for the brand throughout Q2, yielding solid results, but ongoing reinvestment back into the business moves 2023 numbers lower, the analyst tells investors in a research note. The firm sees shares “stuck in neutral.”