Truist analyst Jake Bartlett raised the firm’s price target on Wendy’s to $28 from $27 and keeps a Buy rating on the shares after the company pre-announced its Q4 results last week with above-consensus revenue. Wendy’s has strong SSS momentum, and the company’s announced return of cash to shareholders "appears conservative", leaving room for upside, the analyst tells investors in a research note. Bartlett also expects the company to sustain its "accelerating development" and unit growth despite the near-term pressure.
Published first on TheFly
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