Wendy’s comps growth accelerating in Q2, says Loop Capital

Loop Capital keeps a Buy rating and $29 price target on Wendy’s but notes that the firm’s U.S. franchisee checks suggest that underlying same-store sales growth accelerated to date in Q2. On a 3-year stacked basis, the 6.5% growth estimated for Q1 also equates to a gain of 21.1% compared to the company’s reported 3-year stacks of 17.5% in Q4, the analyst tells investors in a research note.