Wingstop price target raised to $330 from $280 at UBS

UBS analyst Dennis Geiger raised the firm’s price target on Wingstop to $330 from $280 and keeps a Neutral rating on the shares ahead of the Q4 earnings report. UBS expects strong transaction-driven same-store sales, solid unit expansion, and 2024 guidance which could again prove conservative, the analyst tells investors in a research note. UBS believes shares largely reflect industry leading traffic and SSS and at least low double digit store growth, and is looking for a better entry point to get more constructive.