Even as the likes of McDonald's and Starbucks wrestle with slumping sales, business is booming at one fast-food chain. The Dallas-based chicken wing outfit Wingstop, which has been in business for three decades, is positioned to endure “any macro backdrop,” according to Wedbush Securities analysts. Meanwhile, the company is primed for another boost as NFL season—prime wing-eating time—kicks off next month.
Wingstop Inc., which trades on Nasdaq under the ticker WING, remains “uniquely positioned within the industry to deliver transaction growth outperformance over the near-, medium-, and longer-term,” analysts Nick Setyan and Michael Symington wrote in an Aug. 1 note to investors. Wedbush maintained an outperform rating and a 12-month price target of $425. In the past month alone, WING has increased at least 10%, reaching about $406 by Tuesday afternoon.
