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Fly News Breaks for June 15, 2016
MCD, WEN, QSR
Jun 15, 2016 | 07:53 EDT
Longbow analyst Alton Stump lowered his Q2 domestic comparable sales growth estimates for Burger King and Wendy's (WEN) following recent channel checks that indicate that McDonald's (MCD) has gained share domestically in the quarter to date. For Burger King, he lowered his Q2 comp growth forecast to up 1% from up 1.8% and for Wendy's he cut his system-wide Q2 comp growth estimate to up 1.7% from up 2.5%. The firm keeps a Buy rating on Wendy's and a Neutral rating on BK parent Restaurant Brands (QSR).
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