Wendy’s price target lowered to $12 from $13 at Truist

Truist analyst Jake Bartlett lowered the firm’s price target on Wendy’s (WEN) to $12 from $13 and keeps a Buy rating on the shares as part of a broader research note previewing a “lackluster” Q3 among Restaurant names. The firm sees in-line Q3 same-store-sales before a “sharp deceleration” in Q4 due to difficult compares and a ‘Tendy’ supply shortage, the analyst tells investors in a research note.