Morgan Stanley analyst Brian Harbour lowered the firm’s price target on Wingstop (WING) to $372 from $400 and keeps an Overweight rating on the shares. Third-party data points to deceleration in sales and traffic growth through Q3, though a “rather tough quarter seems understood by now,” the analyst tells investors. The firm’s Q3 same-store sales estimate is cut to a decline of 3.4% from down 0.5% previously and the Street at down 0.8%, while also reducing its Q4 view, the analyst noted.
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