Wingstop price target raised to $274 from $242 at Truist

Truist analyst Jake Bartlett raised the firm’s price target on Wingstop (WING) to $274 from $242 and keeps a Hold rating on the shares after its Q1 earnings beat. Same-store sales have decelerated sharply with difficult compares but appear to have troughed at down mid-single-digits in April, with easing compares supporting modest FY25 guidance and potential incremental drivers ahead, the analyst tells investors in a research note. Wingstop is also significantly accelerating new store development, which supports valuation, the firm adds.