Wendy’s removed from Best Ideas List at Wedbush

Wedbush removed Wendy’s (WEN) from its Best Ideas List saying risks to the company’s Q3 and Q4 comp expectations are elevated. Given the timing of this year’s Strawberry Frosty limited time offer and McDonald’s (MCD) successful Grimace Shake campaign, Wendy’s same-store sales growth trends were impacted in June and July has trended below the current consensus estimate of up of 4.1%, the firm tells investors in a research note.