Wendy’s price target lowered to $17 from $18 at Stifel

Stifel analyst Chris O’Cull lowered the firm’s price target on Wendy’s (WEN) to $17 from $18 and keeps a Hold rating on the shares after the firm updated estimates for several restaurant companies based on mobile location data and recent channel checks. In addition, the firm reviewed several companies that are expected to present at the ICR Conference next week, telling investors in its note on the group that it believes Dutch Bros (BROS) and Shake Shack (SHAK) are best positioned to deliver strong Q4 results.