Jefferies Downgrades Wingstop (WING) to Underperform, 'Upside to Near-term Momentum Appears Fully-Baked'

Jefferies analyst Andy Barish downgraded Wingstop (NASDAQ: WING) from Hold to Underperform with a price target of $160.00.

The analyst comments "We downgrade WING to Underperform as valuations seem to reflect an overly optimistic view of n-t SSS momentum. While our analysis of recent drivers suggest Street ests are fair, upside appears limited, incl in 2H where the setup/ optics around decelerating trends also adds risk to the multiple. The latter commands a premium given attractive growth/LT algo vs peers, but at 54x our '23EBITDA, this view seems fully-baked with risk/reward skewed to the downside."

For an analyst ratings summary and ratings history on Wingstop click here. For more ratings news on Wingstop click here.

Shares of Wingstop closed at $184.29 yesterday.

You May Also Be Interested In

• Wolfe Research Downgrades T-Mobile (TMUS) to Peerperform
• Cantor Fitzgerald Reiterates Overweight Rating on Applied Materials (AMAT)
• Cantor Fitzgerald Reiterates Overweight Rating on Merlin Labs (MRLN)