Baird raised the firm’s price target on Wingstop to $225 from $215 and keeps an Outperform rating on the shares. The firm they firmly agree with management’s assessment that Wingstop is operating in a “category of one” with respect to brand positioning, comps/traffic momentum, and franchise-led unit development. Baird raised their 2023-2024 earnings estimates, and believe these updated assumptions have an upward bias.
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Read More on WING:
- Wingstop Q3 encouraging on increased lower income frequency, says Stephens
- Wingstop price target raised to $220 from $200 at Wedbush
- Wingstop raises FY23 domestic same store sales growth view to 16% from 10%-12%
- Wingstop Inc. Reports Fiscal Third Quarter 2023 Financial Results
- Wingstop reports Q3 adjusted EPS 69c, consensus 51c