Wingstop upgraded to Hold from Underperform at Jefferies

Jefferies upgraded Wingstop to Hold from Underperform with a price target of $170, up from $150. The analyst sees a “diminishing overhang” from the company’s same-store-sales deceleration in the second half of 2023 with expectations reflecting a more realistic, conservative bar. The firm recently met with Wingstop’s CFO and came away incrementally more confident around the company’s organic and platform opportunities that should render a mid-single-digit SSS run-rate as achievable.