Wendy’s price target lowered to $11 from $14 at UBS

UBS lowered the firm’s price target on Wendy’s (WEN) to $11 from $14 and keeps a Neutral rating on the shares. UBS believes traffic and same-store sales trends remained pressured in Q2, with a focus on the trajectory into the second half and progress against key sales and development plans, the analyst tells investors in a research note.