Wendy’s investors want evidence of sequential comp improvement, says Stephens

Stephens analyst Jim Salera notes that Wendy’s (WEN) shares are up about 15% after Trian issued an updated 13D that signaled a more active strategic push, though the firm believes investors want evidence of sequential comparable store sales improvement before getting more constructive on shares. Stephens maintains an Equal Weight rating and $8 price target on Wendy’s shares.