Credit Suisse Starts Wendy's (WEN) at Underperform

After the close, Credit Suisse initiated coverage on Wendy's (NASDAQ: WEN) with a Underperform rating and a price target of $9.00.

Analyst Jason West said they have a difficult time justifying the current valuation even when factoring in higher free cash flow post-refranchising. They see little opportunity for growth in EBITDA or FCF over the long-term.

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 $10.93 yesterday.

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