Wingstop price target raised to $345 from $320 at Truist

Truist raised the firm’s price target on Wingstop to $345 from $320 but keeps a Hold rating on the shares after its Q1 earnings beat. The company continues to benefit from a powerful feedback loop with increased marketing spend driving awareness, leading to higher sales and then more marketing spend, the analyst tells investors in a research note. Wingstop’s accelerating development is also encouraging, but reflected in valuation, the firm added.