Wendy’s downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Rahul Krotthapalli downgraded Wendy’s (WEN) to Underweight from Neutral with a price target of $6, down from $7. The firm cites Wendy’s continued decline in U.S. same-store-sales trends with no visibility for achieving the guided second half of 2026 improvement for the downgrade. JPMorgan also sees a lack of direction around the company’s future with no permanent leadership and “ongoing sub-optimal allocation” of capital.