Goldman Sachs analyst Katherine Fogertey started Wingstop with a Buy rating and $135 price target. The analyst views Wingstop as one of the most compelling emerging growth stocks in her coverage and value the shares based on a long term discounted free cash flow. She believes chicken wings are still in their early days of more widespread adoption. Fogertey initiated coverage of the Restaurants sector, which she believes is benefiting from "very strong" low end consumer spending, refranchising, digital engagement that is enabling profits, and delivery that is driving higher checks and traffic.