** Shares of restaurant chain Wingstop WING.O up ~4% at $242.60 premarket
** Guggenheim upgrades stock to "buy" from "neutral", reinstitutes PT at $280
** The company had reported Q4 revenue below estimates and forecast downbeat annual same-store sales on Wednesday, sending shares down 13.4%, following which at least 10 brokerages cut PT on stock on Thursday
** Guggenheim sees comparable sales to hit bottom in Q2, at flat to slightly negative growth, before reaccelerating in second half of 2025; recommends buying WING early rather than late
** Expects Wingstop to provide more disclosure on its international business over the next 12 to 18 months, which should help give investors more confidence in long-term store count potential
** 16 of 25 brokerages rate the stock "buy" or higher, and nine "hold"; with a median PT of $320- data compiled by LSEG
** WING rose 10.8% in 2024
(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com;))
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