Wendy’s price target lowered to $14 from $16 at Truist

Truist analyst Jake Bartlett lowered the firm’s price target on Wendy’s (WEN) to $14 from $16 and keeps a Buy rating on the shares as part of a broader research note previewing Q2 results for Limited Service Restaurants, or LSR. Truist warns that weak Q2 and CEO departure create near-term risk, though it also sees valuation on the stock as compelling while noting that the innovation pipeline for Wendy’s “appears full”, the analyst tells investors in a research note.