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UPDATE: RBC Capital Markets Initiates Coverage on Wendy's on Valuation, Uncertain Sales Trajectory

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In a report published Friday, RBC Capital Markets analyst David Palmer initiated coverage on The Wendy's Company (NASDAQ: WEN) with a Sector Perform rating and $8.50 price target.

In the report, RBC Capital Markets noted, “Wendy's challenge as a mature concept will be to stay relevant in the eyes of a consumer who increasingly is finding better food value away from traditional fast food. We are bullish on the long-term effects of ‘Image Activation' (reimaging) and ‘System Optimization' (refranchising). However, the combination of valuation and an uncertain sales trajectory leaves us on the sidelines.”

The Wendy's Company closed on Thursday at $8.05.

Latest Ratings for WEN

DateFirmActionFromTo
Jan 2020MaintainsEqual-Weight
Dec 2019MaintainsEqual-Weight
Dec 2019Initiates Coverage OnSector Perform

View More Analyst Ratings for WEN
View the Latest Analyst Ratings

Posted-In: David Palmer RBC Capital MarketsAnalyst Color Initiation Analyst Ratings

 

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