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Wingstop price target lowered to $363 from $372 at Morgan Stanley

Morgan Stanley analyst Brian Harbour lowered the firm’s price target on Wingstop (WING) to $363 from $372 and keeps an Overweight rating on the shares. While same-store sales are poor, better store openings and solid profitability continue to be an offset, says the analyst, who argues that “not that much” is changing in the longer term narrative despite the firm reducing its near term estimates.

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