Wingstop price target raised to $325 from $275 at BMO Capital

BMO Capital analyst Andrew Strelzik raised the firm’s price target on Wingstop to $325 from $275 and keeps a Market Perform rating on the shares. The company’s Q1 earnings topped estimates on stronger comps that were driven almost entirely by traffic growth, and its comp guidance likely remains conservative, the analyst tells investors in a research note. BMO adds however that a high degree of optimism already is priced into the shares based on the “extended valuation”.