BUZZ-Wingstop shares gain as Piper Sandler lifts rating to 'overweight'

Reuters04-02
BUZZ-Wingstop shares gain as Piper Sandler lifts rating to 'overweight'

** Shares of restaurant chain Wingstop WING.O rise ~2% to $147.76 in premarket trading

** Piper Sandler upgrades stock to "overweight" from "neutral" rating, but cuts PT to $190 from $283

** The new price target represents a 31.1% upside to the stock's last close of $144.87

** Brokerage says Wingstop's Smart Kitchen initiative should ultimately support its U.S. business, even if the boost to same‑store sales has so far fallen short of what some investors were expecting at this stage last year

** Piper adds that the company's international segment is positioned to help offset slower growth in the U.S., and double‑digit global net new unit growth remains achievable during the 2026 to 2028 period

** 25 of 31 brokerages rate the stock "buy" or higher, 6 "hold"; their median PT is $322.50 - data compiled by LSEG

** As of last day's close, stock down 39.25% YTD

(Reporting by Kanishka Ajmera in Bengaluru)

((mail to: Kanishka.Ajmera@thomsonreuters.com))

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