Wendy’s price target lowered to $6 from $9 at TD Cowen

TD Cowen lowered the firm’s price target on Wendy’s (WEN) to $6 from $9 and keeps a Hold rating on the shares. Given that the firm expects Wendy’s U.S. sales to stay challenged due to a tough outlook for low income consumers in 2026 and views Wendy’s as disadvantaged amid large-scale quick service competitors’ value efforts, beverage platform launches and marketing campaigns, the firm worries shares “will remain in the penalty box,” the analyst tells investors.