Wingstop price target raised to $475 from $456 at Stephens

Stephens analyst Jim Salera raised the firm’s price target on Wingstop to $475 from $456 and keeps an Overweight rating on the shares. Following “a robust across the board beat” in Q2, the firm believes Q3 trends remain robust based on foot traffic data and further supported by the company increasing its FY24 same-store sales guidance. Wingstop is “in a group of one when it comes to driving durable double-digit traffic growth combined with predictability on unit growth,” argues the firm, which believes this will be rewarded in the second half.