Melius upgrades Wingstop to Buy on recent selloff

Melius Research analyst Jacob Aiken-Phillips upgraded Wingstop (WING) to Buy from Hold with a price target of $350, up from $275. The firm sees an attractive entry point following the stock’s recent weakness. Wingstop’s “core growth engine is still intact,” the analyst tells investors in a research note. Melius says the company has international expansion opportunities with an “underappreciated flywheel.” The selloff offers a “more compelling risk-reward profile,” contends Melius.