Wingstop price target raised to $460 from $420 at Stifel

Stifel analyst Chris O’Cull raised the firm’s price target on Wingstop to $460 from $420 and keeps a Buy rating on the shares. The firm’s survey work indicates that although Wingstop’s awareness levels are still well below peers, purchase intent was high among those familiar with the brand, the analyst tells investors in a research note. The firm believes the system could deliver high single digit comp sales growth and new unit volumes that climb closer to the system average during the next few years encouraging significant development.