RBC Capital Remains Sidelined on Wendy's (WEN) Following 3Q

RBC Capital reiterated a Sector Perform rating and $11.00 price target on Wendy's (NASDAQ: WEN) following the company's 3Q earnings report and conference call. RBC raised 2017 EPS estimates for the company from $0.43 to $0.44, largely due to accelerated share repurchase activity. 4Q16 EPS and SSS growth estimates remain unchanged at $0.10 and +0.5%.

Analyst David Palmer commented, "We are raising our EPS estimates slightly, but maintaining our SSS growth forecast. While Wendy's focus on improved quality, cooking techniques, and value led to share gains in 3Q, limited visibility on the chain's marketing direction against difficult comparisons keeps us on the sidelines."

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 $11.33 yesterday.

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