Stephens & Co. Maintains Overweight Rating for Wendy's: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Stephens & Co. has maintained its Overweight rating for Wendy's (NASDAQ:WEN) but lowered its price target from $22.00 to $20.00. Wendy's shares have fallen 2.9% in the last 24 hours to $18.44. The new target suggests an 8.46% potential upside. Wendy's, the second-largest burger QSR in the US by sales, operates nearly 7,100 units in 30 countries, with $11.7 billion in systemwide sales in 2022.
February 19, 2024 | 5:00 pm
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Stephens & Co. maintains Overweight rating on Wendy's but lowers price target from $22 to $20. Shares fell 2.9% to $18.44, with the new target indicating an 8.46% upside.
The maintenance of an Overweight rating by Stephens & Co. suggests a positive outlook on Wendy's, despite the price target reduction. The current share price drop and the new target suggest potential for recovery and growth, likely leading to a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100