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Fly News Breaks for August 30, 2018
MCD, WEN
Aug 30, 2018 | 07:38 EDT
RBC Capital analyst David Palmer kept his Sector Perform rating and $18 price target on Wendy's (WEN) ahead of its roadshow event on September 5th. The analyst notes that while he sees a path to FY19 and FY20 EPS growth of 20% on higher share repurchase assumptions, long term revenue growth should stay around 3%-4% and comps at 1%-2%. Palmer adds that Wendy's may be faced with growing competitive pressure and share losses to "delivery aggregators and improving execution by McDonald's (MCD), Panera, and Chick-Fil-A."
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