Stifel analyst Chris O’Cull lowered the firm’s price target on Wendy’s (WEN) to $14 from $16 and keeps a Hold rating on the shares. Given the recent market volatility and “mediocre” consumer spending in Q1, the firm updated estimates for several restaurant companies to reflect a more cautious outlook, adding that its estimates do not reflect a recession scenario, but it acknowledges the “rising probability.”
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WEN:
- Wing and a Prayer? Wells Fargo says Buy This Restaurant Stock after Pullback
- Wendy’s management to meet with Piper Sandler
- Wendy’s price target raised to $16.50 from $15.50 at Citi
- Sell Rating for Wendy’s Amid International Market Volatility and Competitive Challenges
- Cautious Outlook on Wendy’s: Strategic Ambitions Overshadowed by Near-Term Challenges