Wingstop price target raised to $367 from $350 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Wingstop (WING) to $367 from $350 and keeps an Overweight rating on the shares. With industry demand improved, the firm sees a likely better quarter for restaurants and food distributors than Q1, the analyst tells investors in a research note. Ongoing policy noise remains a risk but middle/upper income customer cohorts remain solid, and costs are mostly benign, the firm argues. Wingstop is set up well looking to the second half, Morgan Stanley adds.