Goldman Sachs analyst Christine Cho upgraded Wingstop Inc. (NASDAQ:WING) to Buy from Neutral, lowering the price forecast to $377 from $458.
According to the analyst, Wingstop’s new multi-year partnership with the NBA, making it the Official Chicken Partner of the NBA and NBA G League, serves as a clear catalyst to boost brand awareness and drive further growth.
Despite strong fundamentals, including best-in-class returns and growth, the stock has fallen 25% over the past month (while the S&P rose 3%).
According to Cho, this decline follows a cost-driven miss in the third quarter and concerns from investors about potential deceleration in same-store sales growth (SSSG) for FY25, given tougher year-over-year comparisons.
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