Truist analyst Jake Bartlett raised the firm’s price target on Wingstop to $292 from $263 and keeps a Hold rating on the shares after its Q4 earnings beat. The company’s initial FY24 SSS guidance of up mid-single-digits is likely conservative given momentum in Q4 with record customer acquisitions and into Q1, supported by the management’s increased marketing spend, the analyst tells investors in a research note.
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Read More on WING:
- WING Earnings: Wingstop Ticks Lower despite Robust Q4 Performance
- Wingstop Inc. Reports Fiscal Fourth Quarter and Full Year 2023 Financial Results
- Wingstop Announces Quarterly Cash Dividend for Shareholders
- Wingstop sees FY24 mid-single digit domestic same store sales growth
- Wingstop reports Q4 adjusted EPS 64c, consensus 57c
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