Northcoast downgrades Wendy’s to Sell on launch delays

Northcoast downgraded Wendy’s (WEN) to Sell from Neutral with a $7 price target The firm’s channel checks indicate Wendy’s is facing a “leadership vacuum” while its marketing is not working, which is driving product launch delays. The stock will lag peers until Wendy’s announces new leadership and marketing strategies, the analyst tells investors in a research note.