Wendy’s price target lowered to $13 from $14 at Truist

Truist lowered the firm’s price target on Wendy’s (WEN) to $13 from $14 but keeps a Buy rating on the shares. The firm cites the company’s guidance cut, also noting that the combination of marketing and innovation mistakes, along with a challenging macro environment, has created significant pressure on its comps, the analyst tells investors in a research note. Truist adds that it does not see immediate silver bullets to turn the tide, though it is encouraged the focus on operations at Wendy’s.