Wingstop price target lowered to $335 from $360 at BMO Capital

BMO Capital lowered the firm’s price target on Wingstop (WING) to $335 from $360 and keeps a Market Perform rating on the shares. The company’s Q3 EPS miss was driven by slightly weaker comps, softer restaurant margins, and higher G&A/taxes, the analyst tells investors in a research note. The overall business momentum at Wingstop remains strong and long-term potential is unchanged, though the company’s decelerating comps may limit shares until stabilization becomes more visible given comp/valuation relationship, the firm added.