In a report released yesterday, Peter Saleh from BTIG maintained a Buy rating on Wingstop (WING – Research Report), with a price target of $370.00.
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Peter Saleh has given his Buy rating due to a combination of factors contributing to Wingstop’s long-term potential. Despite recent concerns over moderating same-store sales trends, Wingstop’s unit growth has surpassed expectations, and there are strategies in place to boost sales growth in the future. The company is exploring initiatives such as promoting chicken tenders and leveraging sports partnerships to enhance its advertising reach.
Furthermore, Wingstop is introducing a new AI-enabled kitchen platform that significantly reduces ticket times, which could increase lunch sales. The brand is also expanding its presence internationally, with a pipeline of new units and entry into promising markets like Australia and the Middle East. These growth strategies, combined with Wingstop’s best-in-class economics and healthy franchisee relationships, underpin Peter Saleh’s confidence in the stock’s future performance.
In another report released today, Wedbush also maintained a Buy rating on the stock with a $355.00 price target.
WING’s price has also changed moderately for the past six months – from $384.940 to $265.020, which is a -31.15% drop .