Wendy’s price target lowered to $7 from $8 at Morgan Stanley

Morgan Stanley analyst Brian Harbour lowered the firm’s price target on Wendy’s (WEN) to $7 from $8 and keeps an Underweight rating on the shares. Q4 was “in line, but not pretty,” says the analyst, who adds that it was also perhaps the low point, driving some short covering for the stock. To be more constructive, one has to buy into “a nice 2026 inflection and continued recovery beyond that,” says the analyst, who will “wait and see for now.”