Argus Upgrades Wendy's (WEN) to Buy

November 25, 2016 9:20 AM EST
Get Alerts WEN Hot Sheet
Price: $13.49 --0%

Rating Summary:
    8 Buy, 16 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Argus upgraded Wendy's (NASDAQ: WEN) from Hold to Buy with a price target of $15.00.

The firm believes that Wendy’s has revitalized its brand over the last three years by selling more than 800 company-owned restaurants. By the end of the year, franchisees will own 95% of all Wendy’s restaurants and only 5% will be company-owned.

The firm is raising 2016 EPS estimate from $0.38 to $0.42 and our 2017 estimate from $0.42 to $0.49

For an analyst ratings summary and ratings history on Wendy's click here. For more ratings news on Wendy's click here.

Shares of Wendy's closed at $12.76 yesterday.

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