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TD Cowen says Q1 appears to be the bottom for Wingstop

TD Cowen reiterated a Hold rating and $175 price target on Wingstop (WING) shares after Q1 results. The firm told investors that while it was pleased with commentary that April same store sales improved and clearer messaging for Q2 same store sales, TD Cowen sees risk that updated guidance for 2026 implies too significant of a rebound in the second half. The firm added that it lowered its 2026 same store sales estimate for Wingstop.

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