Wendy’s price target lowered to $8 from $9 at BMO Capital

BMO Capital lowered the firm’s price target on Wendy’s (WEN) to $8 from $9 and keeps a Market Perform rating on the shares after its Q1 results. The company reiterated 2026 guidance and expects comps to build as Project Fresh progresses, but while the turnaround playbook is sensible, the firm sees risk given aggressive second-half ramp embedded in outlook, pressured consumer environment including elevated gas prices, and intensifying value competition, the analyst tells investors in a research note.