Keep an eye on Wingstop (WING).
With March Madness about to tip off, chicken wing stocks could fly.
Consider this. Back in 2000, thanks to the cancellation of March Madness, the wing industry had a surplus of a million pounds of wings. That’s because no one expected the virus to shut down the games. And most businesses expected to see business as usual.
Thankfully, in the years following, March Madness came back – as did wing demand. In 2022, for example, the National Chicken Council expected Americans to gobble down about 1.42 billion wings. This year, they’re expected to do the same—which could be great news for chicken wing stocks like WING.
Even better, multiple firms just upgraded their price targets for WING. Wedbush, for example, raised its target to $200 from $177. Barclays raised from $167 to $205. Citi raised from $193 to $200. Barclays raised from $167 to $205.