KeyBanc Starts Wingstop (WING) at Overweight
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KeyBanc initiated coverage on Wingstop (NASDAQ: WING) with a Overweight rating and a price target of $36. Analyst David Carlson called the company a compelling growth story.
"We believe WING is poised to grow annual revenue in the mid-teens with at least high-teens earnings growth (projecting 19%, on average) over the next several years, driven by mid-teens unit expansion and modest G&A leverage. Our rating is based on our opinion a premium valuation is warranted by the Company’s long-term growth prospects and potential upward bias to near- and intermediate-term SRS and EPS estimates," said Carlson.
Shares of Wingstop closed at $31.36 yesterday.
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