Wendy’s price target lowered to $9 from $10 at BofA

BofA analyst Sara Senatore lowered the firm’s price target on Wendy’s (WEN) to $9 from $10 and keeps an Underperform rating on the shares. The firm lowered its Q4 EPS estimate for Wendy’s to 12c from 17c prior, primarily on below the line items, including interest expense and tax rate, the analyst tells investors. The firm believes Wendy’s will continue to struggle to compete with larger fast food hamburger restaurant competitors, the analyst added.