Deutsche Bank analyst Brian Mullan downgraded Wendy’s to Hold from Buy with an unchanged price target of $23. The stock closed on Friday at about $23 per share after the company reported preliminary Q4 results, noted Mullan, who thought domestic comps were "good" and domestic units were "underwhelming." He cites valuation for his downgrade and would advise looking elsewhere in Restaurants / Food Distribution for more attractive upside potential.
Published first on TheFly
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