Jefferies lowered the firm’s price target on Wendy’s (WEN) to $9 from $10 and keeps a Hold rating on the shares. The firm sees a softer finish to Q3 for its U.S. restaurants coverage as demand trends remained choppy and is now more conservative regarding near-term same-store sales growth, the analyst tells investors in a preview for the group. The firm sees “moderate downside risk” in Q3 among its coverage and lowered price targets on several names in the space.
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