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Fly News Breaks for January 7, 2019
WEN
Jan 7, 2019 | 07:02 EDT
As previously reported, Stifel analyst Chris O'Cull downgraded Wendy's to Hold from Buy as he said he cannot argue for a better valuation without greater system sales growth and does not see upside to the 2019 consensus EBITDA estimate of $447M. While international is a longer-term system sales opportunity, O'Cull expects it may take a few years to deliver greater system sales growth, he tells investors. He lowered his price target on Wendy's shares to $17 from $19.
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