Wendy’s price target lowered to $11 from $13 at TD Cowen

TD Cowen analyst Andrew Charles lowered the firm’s price target on Wendy’s (WEN) to $11 from $13 and keeps a Hold rating on the shares following the Q2 report. The company’s is rightfully prioritizing collaborations, chicken and specialty beverages but faces a challenged industry backdrop and tough comparisons in the second half of 2025, the analyst tells investors in a research note. TD is concerned about Wendy’s reduced advertising budget in the back of the year amid underperforming sales.