Piper Sandler Maintains Neutral Rating for Wingstop: Here's What You Need To Know

Piper Sandler has decided to maintain its Neutral rating of Wingstop WING and raise its price target from $177.00 to $191.00.

Shares of Wingstop are trading down 2.92% over the last 24 hours, at $200.80 per share.

A move to $191.00 would account for a 4.88% decline from the current share price.

About Wingstop

Founded in 1994 in Garland, Texas, Wingstop is a restaurant operator specializing in indulgent bone-in and boneless chicken wings, chicken tenders, fries, and recently chicken sandwiches. The firm's footprint has grown quickly since its inception, reaching nearly 2,000 global stores at the end of 2022, rendering Wingstop the 40th-largest restaurant chain in the U.S. by system sales, according to Technomic data. With a 98% franchised model, Wingstop generates the lion share of its revenue from franchise royalties and advertising fees, with the remainder derived from a small footprint of company-owned stores.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.