Wingstop price target lowered to $356 from $396 at BofA

BofA lowered the firm’s price target on Wingstop (WING) to $356 from $396 and keeps a Buy rating on the shares. The firm lowered its Q4 EBITDA estimate on slower topline results as it anticipates a slowdown across the system owing to broader industry pressure and is applying a lower terminal multiple owing to growth peer multiple compression, but keeps a Buy rating, citing the company’s long growth runway.