Wingstop Posting Notable Gain On Upgrade By Wedbush

(RTTNews) - Shares of Wingstop Inc. (WING) have shown a strong move to the upside during trading on Friday, surging up by 6.5 percent. Wingstop continues to rebound after ending Monday's trading at its lowest closing level in over four months.

The advance by Wingstop comes after Wedbush upgraded its rating on the restaurant chain's stock to Outperform from Neutral.

"We continue to view the rollout of delivery/digital ordering, upped marketing spend, a relative value proposition, and the natural maturation cycle of new units as drivers that could sustain mid- to high-single-digit SSS growth through 2019 versus the consensus expectation of 4%," said Wedbush.