Jefferies analyst Andy Barish reiterated a Buy rating and $30 price target on Wingstop (NASDAQ: WING) following Q2 results.

Barish commented, "EPS of $0.15 beat JefCo/Cons by $0.01 driven by SSS of +3.1% vs. JefCo/Cons of 2.0%/2.5% offset by lower than expected RLM into higher wing costs and labor investments. Development remains strong as mgmt. raised its '16 expectations for co-owned and franchise new unit openings. '16 EBITDA guide modestly raised, but LSD SSS guide unchanged. Our ‘16E/17E EPS are relatively unchanged. Reiterate Buy and $30 PT."

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Shares of Wingstop closed at $26.31 yesterday.