Wendy’s price target lowered to $9.50 from $11 at UBS

UBS lowered the firm’s price target on Wendy’s (WEN) to $9.50 from $11 and keeps a Neutral rating on the shares. Wendy’s Q3 results and commentary highlighted pressured U.S. same-store sales amid macro and competitive headwinds, while focus was on turnaround plans, including U.S. restaurant closures, the analyst tells investors in a research note. The firm expects results will remain challenged in Q4, but thinks traction against sales initiatives and the implementation of Project Fresh should generate sales improvement through 2026.