Raymond James upgraded Wingstop (WING) to Strong Buy from Outperform with a price target of $240, down from $325. Piper Sandler this morning also upgraded the shares. Raymond James views the recent pullback in Wingstop shares as overdone. The company’s weaker Q1 comps and lowered 2026 guidance seem anticipated and priced in following the stock’s 44% decline in the last month, the analyst tells investors in a research note. The firm believes Wingstop’s lack of value messaging and less effective recent marketing campaign could be negatively impacting comps, but says these are fixable.
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