Raymond James analyst Brian Vaccaro lowered the firm’s price target on Wingstop (WING) to $350 from $420 and keeps a Strong Buy rating on the shares. A selective stance is maintained across the restaurant sector ahead of what is expected to be a mixed and volatile Q3 earnings season, marked by softer limited-service trends, continued strength in casual dining, and potential commodity inflation for beef-heavy operators offset by lower chicken and dairy costs, the analyst tells investors in a research note. Recent industry softness, despite resilient overall consumer spending, appears driven by pressure on lower-income consumers, elevated unemployment among younger demographics, and broader sentiment headwinds possibly linked to political uncertainty, the firm says.
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Read More on WING:
- Wingstop price target lowered to $365 from $415 at Wells Fargo
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