Argus upgraded Wendy’s (WEN) to Buy from Hold with a $12 price target The firm is citing reports that the company is possibly being taken private by activist investor Trian Fund Management and believes the takeover talk will fuel further upward momentum in the stock price. Argus further states that there is room for improvement in operations, noting that while international sales have been growing, they are not outpacing the decrease in U.S. sales.
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