Wingstop price target lowered to $305 from $400 at BTIG

BTIG lowered the firm’s price target on Wingstop (WING) to $305 from $400 and keeps a Buy rating on the shares. The company reported disappointing Q1 sales with comps decline of 8.7% – worse than the firm’s and buy-side expectations – as poor weather, higher gas prices, and overall malaise among lower-income consumers have intensified, the analyst tells investors in a research note.