Wendy’s price target lowered to $10 from $11 at Truist

Truist analyst Jake Bartlett lowered the firm’s price target on Wendy’s (WEN) to $10 from $11 and keeps a Buy rating on the shares. The firm notes the company’s “disappointing” guidance but still believes that Wendy’s turnaround will be successful, driven by a refocused marketing message on quality, more consistent and relevant menu innovation and operational improvements, the analyst tells investors in a research note.