Wingstop price target raised to $190 from $175 at Baird

Baird analyst David Tarantino raised the firm’s price target on Wingstop to $190 from $175 and keeps an Outperform rating on the shares. The analyst previewed the quarter and said the setup surrounding the setup is somewhat tricky when considering the relatively high bar for consensus EPS coupled with the year-to-date strength in the stock. Baird still sees a favorable 12-month risk/reward on Wingstop based on a view that the company is well positioned to show solid operating performance in 2023.