Analysts Lower Wendy’s Price Targets Following Earnings Report
Wendy's Company (NASDAQ: WEN) has seen several equity research firms adjust their target prices and ratings following its latest quarterly earnings report. Barclays reduced its target price for Wendy’s to $18.00, suggesting a potential upside of 6.64%, and maintained a “neutral” rating. Piper Sandler lowered its price objective from $23.00 to $19.00, with an “overweight” rating, indicating a potential upside of 12.56%. Deutsche Bank Aktiengesellschaft also reduced its price target from $20.00 to $18.00, rating the stock as "hold."
Other firms have also revised their assessments. BMO Capital Markets decreased their target from $22.00 to $19.00, suggesting a potential upside of 12.56%. Meanwhile, Stifel Nicolaus dropped its price target from $20.00 to $19.00, maintaining a “hold” rating. Analysts have noted that Wendy’s reported earnings of $0.27 per share for the quarter, missing the consensus estimate by $0.01, and annual revenue of $570.73 million, slightly below the consensus of $577.15 million.
The sentiment among analysts appears mixed, with some expressing caution and others remaining optimistic. While the most optimistic analyst set a price target of $26.00 per share, the most pessimistic valued it at $16.00. Overall, the revised targets suggest a tempered outlook on Wendy’s future performance, reflecting a cautious stance on its growth prospects amidst the company's latest financial disclosures.
