Evercore ISI added Wendy’s to the firm’s “Tactical Outperform” list while keeping an In Line rating on the name with a $22 price target. The firm increased its Q2 U.S. same-store-sales growth forecast from 1% to 3%, above the consensus estimate of 2.5%, which is the basis for the near-term trading call. While the fast food industry same-store-sales growth has stalled out around 1%, and competitors such as McDonald’s and Burger King have slowed, Wendy’s growth has seemingly accelerated, the analyst tells investors in a research note.the analyst tells investors in a research note.
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