Wingstop price target raised to $300 from $270 at Wells Fargo

Wells Fargo analyst Zachary Fadem raised the firm’s price target on Wingstop (WING) to $300 from $270 and keeps an Overweight rating on the shares. While Q1 was soft and quarter-over-date stepping down, the firm sees risk/reward improving. 3-year stacks are holding, Q2 very likely trough, and second half of the year catalysts are coming via Smart Kitchen rollout, loyalty marketing and easing compares, Wells adds.