Wingstop Analyst Upgrades Amid Buyback, Sales Surge
Portfolio Pulse from Priya Nigam
Wingstop Inc (NASDAQ:WING) has entered into an accelerated share buyback agreement with Morgan Stanley to repurchase $125.0 million worth of common stock. The company's same-store sales are expected to exceed consensus estimates for Q3 and grow in the 8%+ range. Wedbush analyst Nick Setyan upgraded Wingstop from Neutral to Outperform and raised the price target from $180 to $200.
September 20, 2023 | 7:57 pm
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POSITIVE IMPACT
Wingstop's share buyback agreement and expected sales growth have led to an upgrade from Wedbush. The price target has been raised to $200, indicating positive short-term impact.
The news of Wingstop's share buyback agreement and expected sales growth are positive indicators for the company's performance. This has led Wedbush to upgrade the company and raise its price target, which could lead to increased investor interest and a potential rise in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100