Nomura Securities Starts Wendy's (WEN) at Neutral

Nomura Securities initiates coverage on Wendy's (NASDAQ: WEN) with a Neutral rating and a price target of $10.00.

Analyst Mark Kalinowski commented, "We initiate coverage of The Wendy’s Company (WEN)—owner of the namesake quick-service restaurant concept, which ranks No.3 in the quick- service burger category in terms of U.S. systemwide sales—with a Neutral rating and a $10 target price. Opportunities and positives include the company’s Image Activation initiative to revamp store appearance; the quality of Wendy’s food; and the possibility that Wendy’s black bean veggie burger (testing in four stores) could be a breakout product."

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 $8.65 yesterday.

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