Goldman Sachs Removes Wendy's (WEN) from Conviction Buy List
- DuPont (DD) Tops Q4 EPS by 9c; Sees Merger Closing in First Half
- Alibaba (BABA) Tops Q3 EPS by 17c, Revenues Rise 54%
- Barclays Downgrades Apple (AAPL) to Equalweight, Concerned India/China Will not Emerge As Growth Catalysts
- Yahoo! (YHOO) Tops Q4 EPS by 4c; Sees Verizon Deal Closing in Q2, Not Q1
- SAP (SAP) Q4 IFRS Revenues Rises 7%, Boosts 2020 Outlook
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Goldman Sachs downgraded Wendy's (NASDAQ: WEN) from Conviction Buy to Buy with a price target of $11.00 (from $12.50). Analyst Karen Holthouse remains bullish on the stock but pointed out limited comp visibility.
"We continue to see a compelling longer-term cash flow story for WEN, with refranchising, upside to property revenues, and the potential for additional G&A cuts offering a cushion against potentially weaker comp trends; however, in the current environment, we see execution risk and the potential for additional FY16 comp guidance reductions. As a result, we remove shares from the CL but maintain our Buy rating," said Holthouse.
Shares of Wendy's closed at $9.91 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Instinet Downgrades DineEquity (DIN) to Neutral
- Expect Google (GOOGL) To Post A Strong Topline Q4 Report - Goldman Sachs
- Zions Bancorp (ZION) PT Raised to $50 at Goldman Sachs
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesGoldman Sachs Conviction Buy List, Goldman Sachs
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!