UPDATE: Goldman Sachs Resumes Wendy's (WEN) at Neutral
Get Alerts WEN Hot Sheet
Rating Summary:
15 Buy, 28 Hold, 0 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 10
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Goldman Sachs resumed coverage on Wendy's (NASDAQ: WEN) with a Neutral rating and a price target of $10.50. Analyst Karen Holthouse thinks valuation is stretched.
"Our proprietary survey data show that WEN gained significant traction with Millennials in 2012-2014 (a 33% increase in WEN as a share of QSR visits), which, along with image activation, is a multi-year tailwind to comps consensus does not reflect, in our opinion. However, we view valuation as stretched, with an 18% gap between the multiple-based portion of our target price ($11.25) and the DCF-based portion ($9.50) – the widest in our coverage universe," said Holthouse.
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 $11.00 yesterday.
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