Wingstop price target raised to $198 from $185 at Citi

Citi raised the firm’s price target on Wingstop to $198 from $185 and keeps a Neutral rating on the shares. The firm said that industry sales slowed during the last third of the quarter, though it appears Wingstop bucked this trend, which likely drove comp sales ahead of Wall Street estimates. Citi expects the company will point to recent initiatives as giving management confidence in its ability to comp-the-comp come late Q4/early 2024.