Wingstop price target raised to $200 from $180 at Cowen

Cowen analyst Andrew Charles raised the firm’s price target on Wingstop to $200 from $180 and keeps an Outperform rating on the shares. The analyst said we are encouraged by new 2023 efforts around menu innovation advertising and delivery. The better than expected top-line narrative leads us to ascribe greater multiple expansion as we raise our price target.