Wingstop price target raised to $200 from $177 at Wedbush

Wedbush raised the firm’s price target on Wingstop to $200 from $177 and keeps an Outperform rating on the shares. The firm notes the company reported Q4 EPS above expectations on better-than-expected same-store sales growth, mid-single-digit 2023 same-store sales growth guidance looks conservative, and 2023 SG&A guidance is the only imperfection in an otherwise perfect quarter. Wedbush continues to view Wingstop’s business model as among the best positioned to sustain market share gains post-COVID on top of what were outsized gains during COVID.