BMO Capital lowered the firm’s price target on Wingstop (WING) to $280 from $345 and keeps a Market Perform rating on the shares. The company’s Q3 earnings topped consensus as G&A favorability and exceptional unit growth more than offset softer comps, the analyst tells investors in a research note. BMO adds however that it has lowered its estimates reflecting softer comp trajectory, which also warrants tempered multiple.
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Read More on WING:
- Wingstop price target lowered to $400 from $430 at BTIG
- Wingstop upgraded to Buy from Neutral at Northcoast
- Wingstop price target lowered to $350 from $400 at Bernstein
- Wingstop price target lowered to $295 from $330 at Barclays
- Wingstop’s Hold Rating: Balancing Strong Brand with Near-Term Sales Challenges and Strategic Initiatives