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