Stephens lowered the firm’s price target on Wendy’s (WEN) to $11 from $13 and keeps an Equal Weight rating on the shares after the company reported “mixed” Q2 results and lowered FY25 global systemwide sales guidance for the second consecutive quarter. The firm, which believes sustained comparable store sales growth improvement will be necessary to re-establish investor confidence, thinks improved execution and better franchisee alignment will be critical to regaining traffic.
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