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

Wedbush raised the firm’s price target on Wingstop to $330 from $280 and keeps an Outperform rating on the shares ahead of quarterly results. For Q4, the firm expects EPS of 61c on revenue of $117.8M. Wedbush’s checks point to Q4 same-store sales growth above consensus. The firm views upside to margin estimates as likely, as management’s continued efforts to mitigate food cost volatility provide a high degree of visibility into 2024.