Barclays Maintains an 'Overweight' on Wendys (WEN); Recent Meeting With Management

Barclays maintains an 'Overweight' on Wendys (NYSE: WEN) price target of $6.00.

Barclays analyst says, "Wendy's hosted a lunch for sell side analysts with Emil Brolick, the new president & CEO, and Steve Hare, CFO. We would characterize the tone as positive, though with only one month on the job, there was no change to the long-term vision, which we view favorably, supporting today's outperformance."

"Key Takeaways: Today's meeting focused on several areas: 1) Long-Term
Guidance... No update to prior guidance for 10-15% EBITDA growth, 2) Premium Positioning... Stay the course with differentiation, with Hot N' Juicy the near-term focus, 3) Breakfast Rollout... Excited by the product line, with focus on breakeven to get franchisee support, 4) Cash Usage... Focus on restaurant re-imaging, buy-in of older franchisees, breakfast rollout, 5) Int'l Long-Term... Secure best partners, entering markets as premium player."

For more ratings news on Wendys click here and for the rating history of Wendys click here.

Shares of Wendys closed at $4.53 yesterday.

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