Wendy’s price target lowered to $20 from $22 at BMO Capital

BMO Capital lowered the firm’s price target on Wendy’s to $20 from $22 and keeps a Market Perform rating on the shares. The company’s Q4 results missed consensus estimates, reflecting softer U.S. and International comps, solidly lower margins, and higher taxes, the analyst tells investors in a research note. The outlook for Wendy’s is achievable but potentially aggressive, the firm added.