BMO Capital raised the firm’s price target on Wingstop to $275 from $235 and keeps a Market Perform rating on the shares. The company’s Q4 earnings topped estimates on stronger comps and, to a lesser extent, restaurant margins, the analyst tells investors in a research note. The management also provided in-line 2024 guidance across comps, units, and restaurant margins, though its higher G&A limited EBITDA outlook relative to expectations, the firm added.
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Read More on WING:
- WING Earnings: Wingstop Ticks Lower despite Robust Q4 Performance
- Wingstop Inc. Reports Fiscal Fourth Quarter and Full Year 2023 Financial Results
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- Wingstop sees FY24 mid-single digit domestic same store sales growth
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