Wendy's (WEN) PT, Estimates Cut at RBC Capital

RBC Capital analyst David Palmer reiterated a Sector Perform rating, cut estimates and trimmed his price target on Wendy's (NASDAQ: WEN) to $9.00 (from $10.00).

"Our reduced price target and estimates reflect both Wendy's lack of success with its recent pork platform and successful value messaging by competitors," Palmer said.

The firm is lowering 4Q14, 2014, and 2015 EPS estimates to $0.09 ($0.10 prior; consensus $0.09), $0.33 ($0.34 prior; consensus $0.34), and $0.38 ($0.40 prior; consensus $0.38), respectively. 3Q estimates for SSS growth (1.5% franchised, 2.5% company) and EPS ($0.08; consensus $0.09) are unchanged.

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 $8.41 yesterday.

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