Wingstop price target lowered to $290 from $330 at Truist

Truist analyst Jake Bartlett lowered the firm’s price target on Wingstop (WING) to $290 from $330 and keeps a Hold rating on the shares. After the company’s Q4 results and disappointing comps guidance, the firm is lowering estimates, expecting the stock to be rangebound until the trajectory of its comps deceleration becomes more clear, the analyst tells investors in a research note. The FY25 SSS guidance did not accomplish this, even though there are reasons for optimism beyond the near term trends that include strong development guidance, a new kitchen operating system announced and continued opportunity to drive brand awareness, the firm adds.