Argus Upgrades Wendy's (WEN) to Buy
Argus analyst Christine Dooley upgraded Wendy's (NASDAQ: WEN) from Hold to Buy, PT $12.00.
The analyst comments "We are upgrading our rating on Wendy's Co. (NYSE: WEN) to BUY from HOLD. The shares got a big boost on May 12, with news of the potential move to take the restaurant chain private. The Financial Times reported that activist investment firm Trian Fund Management, run by Nelson Peltz, is pursuing a consortium to take Wendy's private. Trian and its co-founders owns about 40% of the WEN stock."
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 $7.90 yesterday.