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Fly News Breaks for January 17, 2020
WING
Jan 17, 2020 | 08:56 EDT
BTIG analyst Peter Saleh raised his price target on Wingstop to $103 and kept his Buy rating, saying the company's inaugural Investor Day did not disappoint. The analyst is positive on the company's "industry-leading cash-on-cash returns, highly franchised business model, and immense white space for new unit development", saying these factors should continue to drive "significant sales, earnings growth, and shareholder returns". Saleh adds that Wingstop has further same-store sales growth potential from its opportunity to increase digital mix from 39% to at least 65% and expand awareness of its delivery capability.