Bernstein lowered the firm’s price target on Wendy’s (WEN) to $15 from $18 and keeps a Market Perform rating on the shares. The firm says Wendy’s Q1 performance was below expectations, confirming its hypothesis that the QSR industry remains under significant pressure.
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Read More on WEN:
- Wendy’s Faces Challenges: Hold Rating Amid Declining Sales and Economic Pressures
- Wendy’s price target lowered to $21 from $26 at Loop Capital
- JPMorgan upgrades Wendy’s on ‘value-oriented opportunity’
- Wendy’s upgraded to Overweight from Neutral at JPMorgan
- Wendy’s price target lowered to $13 from $14 at Barclays