|Over a week ago|
Wingstop initiated with an Overweight at Stephens » 16:1709/2209/22/22
Stephens analyst Joshua…
Stephens analyst Joshua Long initiated coverage of Wingstop with an Overweight rating and $148 price target. The analyst sees the company as a unique long-term unit growth story within the limited service restaurant segment. Long also believes that the brand's leadership within the popular chicken wing category, combined with a relatively simple operating model, support a "compelling combination" of best-in-class unit-level economics and global unit growth potential.
Wedbush raises Wingstop price target to $157, removes from Best Ideas List » 07:3909/1209/12/22
Wedbush analyst Nick…
Wedbush analyst Nick Setyan raised the firm's price target on Wingstop (WING) to $157 from $135 and keeps an Outperform rating on the shares. The analyst believes the popularity of the chicken sandwich could transform Wingstop's long-term unit economics. While Setyan continues to view Wingstop's business model as among the best positioned to capitalize on post-COVID market share gains, he also removed the stock from his firm's Best Ideas List as he believes catalysts such as the addition of UberEats (UBER) and the late-Q3 chicken sandwich rollout are now in the rear view.
|Over a month ago|
Bill could pressure California limited service restaurants, says Citi » 12:1008/3008/30/22
EAT, SBUX, WING, DRI, TXRH, DENN, MCD, CMG, YUM, QSR
Citi analyst Jon Tower…
Citi analyst Jon Tower says limited service restaurants with greater store exposure to California could come under pressure today following the California State Senate passing Assembly Bill 257, also known as the "FAST Act." While the modified bill has "watered down some of the most onerous potential implications" of the original bill and still needs to be re-voted on in the State Assembly, if passed, it would still "drastically change" the California restaurants' regulatory backdrop and would have "precedent for gradually growing regulatory scope based on similar councils in other industries," Tower tells investors in a research note. He points out that the council would have regulatory authority for chains with over 100 national units, versus 30 in the draft bill.
Wingstop price target raised to $150 from $140 at Cowen » 07:3208/0808/08/22
Cowen analyst Andrew…
Cowen analyst Andrew Charles raised the firm's price target on Wingstop to $150 from $140 and keeps an Outperform rating on the shares. The analyst said he has increased confidence in his Street-high 2H22 SSS estimates driven largely by the 35% 2H22 year-over-year national ad budget increase, plus the addition of Uber Eats and the Sept. 1 chicken sandwich launch.
Wingstop price target raised to $115 from $100 at RBC Capital » 09:3007/2907/29/22
RBC Capital analyst…
RBC Capital analyst Christopher Carril raised the firm's price target on Wingstop to $115 from $100 but keeps a Sector Perform rating on the shares. The company's Q2 results topped expectations, but while the management highlighted a number of compelling sales levers for the remainder of the year along with easing cost pressures, the positives are already reflected in the current valuation, the analyst tells investors in a research note.
Wingstop price target raised to $145 from $130 at Truist » 08:2707/2907/29/22
Truist analyst Jake…
Truist analyst Jake Bartlett raised the firm's price target on Wingstop to $145 from $130 and keeps a Buy rating on the shares. The analyst cites the company's Q2 earnings beat and notes that while its sales are sensitive to pressure from the lower income consumer, Wingstop offers "tangible offsets" with a new delivery partnership with Uber Eats, the planned launch of a chicken sandwich, and the 35% increase in national marketing spend.
Wingstop price target raised to $140 from $100 at Cowen » 07:3707/2907/29/22
Cowen analyst Andrew…
Cowen analyst Andrew Charles raised the firm's price target on Wingstop to $140 from $100 and keeps an Outperform rating on the shares. The analyst said 2Q comps weren't as bad as feared, while development guidance was raised and management crafted a very exciting second half story.
Wingstop price target raised to $117 from $83 at Deutsche Bank » 07:3107/2907/29/22
Deutsche Bank analyst…
Deutsche Bank analyst Brian Mullan raised the firm's price target on Wingstop to $117 from $83 and keeps a Hold rating on the shares post the Q2 results.
Wingstop price target raised to $144 from $101 at Barclays » 07:0107/2907/29/22
Barclays analyst Jeffrey…
Barclays analyst Jeffrey Bernstein raised the firm's price target on Wingstop to $144 from $101 and keeps an Overweight rating on the shares post the Q2 results. The shares were pressured through the first half of 2022 on fundamental concerns coupled with caution on high-multiple growth names, Bernstein tells investors in a research note. And while Q2 fell short of sell-side consensus, it was above buy-side concerns, and the company's comps are re-accelerating in the second half, says the analyst.
Wingstop price target raised to $150 from $120 at Baird » 06:5207/2907/29/22
Baird analyst David…
Baird analyst David Tarantino raised the firm's price target on Wingstop to $150 from $120 and keeps an Outperform rating on the shares. The analyst said he is confident a range of internal drivers can fuel better top-line performance in upcoming periods against easing comparisons, and based on this outlook and a positive view of the company's strong unit development momentum and durable earnings model, he raised his target.