Wingstop (WING) PT Raised to $165 at Cowen

Cowen analyst Andrew Charles raised the price target on Wingstop (NASDAQ: WING) to $165.00 (from $150.00) while maintaining an Outperform rating.

The analyst commented, "3Q comps demonstrated WING's robust playbook is resonating, and should successfully drive continued traffic growth in the coming quarters amid a challenged lower income consumer backdrop. We note raised 2022 development is an anomaly in the industry while a new 500 bps margin opportunity from a higher boneless mix provides greater credibility to reach 4,000 ultimate U.S. restaurants."

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