Wingstop price target lowered to $250 from $325 at Stifel

Stifel analyst Chris O’Cull lowered the firm’s price target on Wingstop (WING) to $250 from $325 and keeps a Buy rating on the shares. The firm believes Wingstop continues to struggle with same-restaurant sales performance, potentially down 7% in Q1, and attributes recent weakness primarily to poor tactical execution. However, it is “encouraged” by the appointment of a new head of franchise operations and despite “these frustrations,” the brand remains healthy “with investor expectations well below the sell-side mean estimates,” the analyst added.