Wedbush Downgrades Wendys, Sees No Fundamental Catalyst To Drive Upside
Wedbush downgraded Wendys Co (NYSE: WEN) from Outperform to Neutral on Wednesday, lowering the fast-food chain's 12-month price target from $13 to $12.
Wendys was trading lower by 0.87 percent at $11.37 in Thursday’s pre-market session.
Here is what analysts Nick Setyan and Colin Radke had to say:
- “We no longer see any fundamental catalysts to drive upside.”
- Wendys will now pay $110 million (3.9 percent blended fixed interest rate) in annual interest.
- Lowering 2015 EPS from $0.36 to $0.33.
- “We believe valuation may be capped pending further visibility into resumption in EBITDA growth in 2017 and beyond.”
Wendys share price has been steadily rising, up nearly 32 percent in the past six months and up 27 percent year-to-date.
Latest Ratings for WEN
|Feb 2017||JP Morgan||Upgrades||Neutral||Overweight|
|Jan 2017||Longbow Research||Downgrades||Buy||Neutral|
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