Wendy’s price target lowered to $11 from $12 at Evercore ISI

Evercore ISI lowered the firm’s price target on Wendy’s (WEN) to $11 from $12 and keeps an In Line rating on the shares. Wendy’s, whose legacy of quality and innovation is being challenged by market dynamics and operational hurdles, is “at a crossroads” and needs a strategic shift to regain its edge in the competitive U.S. restaurant landscape, the analyst tells investors.