Wendy’s price target lowered to $16 from $17 at Barclays

Barclays analyst Jeffrey Bernstein lowered the firm’s price target on Wendy’s (WEN) to $16 from $17 and keeps an Equal Weight rating on the shares. The company’s Q4 comp and EBITDA came in modestly above the Street, driven by the October Sponge Bob collaboration, the analyst tells investors in a research note. However, the firm says Wendy’s Q1 comp will be negative on weather and macro headwinds.