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Wingstop price target raised to $345 from $275 at BMO Capital

BMO Capital raised the firm’s price target on Wingstop (WING) to $345 from $275 but keeps a Market Perform rating on the shares after its Q2 earnings beat. The outperformance was driven by smaller-than-expected comp decline, exceptional unit growth, and restaurant margins 180bps above expectations, the analyst tells investors in a research note. BMO adds however that it would seek a more attractive entry point with improving visibility to mid-single-digit comp.

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