Stephens Reiterates Overweight Rating on Wingstop (WING)

Stephens analyst Jim Salera reiterated an Overweight rating and $490.00 price target on Wingstop (NASDAQ: WING).

The analyst comments "Wingstop announced it will become the official chicken partner of the NBA & NBA G league with the groups have entering into a multiyear partnership. This marks WING's first official collaboration with a major U.S. sports league. With this partnership WING will have virtual and courtside signage during nationally televised NBA games and will also be featured on the NBA’s social and digital platforms. We believe this media exposure is likely to further enhance Wingstop’s brand visibility and aligns with its growth strategy by associating the brand with large, passionate fan bases (similar to what they have done with NFL Thursday Night football). We note, WING has established local market partnerships with major NBA teams but believe this broader market deal will promote national exposure during high-profile NBA events, such as becoming the presenting partner of the NBA All-Star Celebrity Game Green Carpet."

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 $366.61 yesterday.

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