RBC Capital Remains Sidelined on Wendy's (WEN) Following 2Q

August 11, 2016 7:11 AM EDT
Get Alerts WEN Hot Sheet
Price: $13.46 -0.22%

Rating Summary:
    8 Buy, 16 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 22 | Down: 17 | New: 13
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RBC Capital reiterated a Sector Perform rating and $11.00 price target on Wendy's (NASDAQ: WEN) following the company's 2Q earnings report. While the company expressed confidence that it could deliver positive SSS in 2H, RBC continues to worry about Wendy’s ability to lap its difficult 2H comparisons. The company believes that much of the slowdown was a result of poorly performing premium limited time offers such as the Jalapeno Fresco Chicken.

Analyst David Palmer commented, "After 2Q earnings, our estimates and thesis are essentially unchanged. We continue to see downside to consensus SSS estimates in the near-term, but we suspect the company's G&A outlook might be conservative. We are maintaining our Sector Perform rating and $11 price target."

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 $9.91 yesterday.

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