Piper Sandler upgraded Wingstop (WING) to Overweight from Neutral with a price target of $190, down from $283. The stock’s risk/reward is attractive following a period of underperformance, the analyst tells investors in a research note. The firm believes Wingstop’s consensus estimates will likely all need to be revised lower in the months ahead. However, this is understood by investors and priced into the shares, contends Piper.
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