JPMorgan lowered the firm’s price target on Wendy’s (WEN) to $13 from $15 and keeps an Overweight rating on the shares. The company’s fiscal 2025 outlook revision implies a significant slowdown in the second half of the year, driven by current U.S. business trends, the analyst tells investors in a research note. However, the firm believes Wendy’s current valuation on lowered expectations “protects further downside.”
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