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Fly News Breaks for May 3, 2019
WEN
May 3, 2019 | 07:07 EDT
Oppenheimer analyst Brian Bittner tells investors in a research note that he remains bullish on Wendy's ahead of the company's May 8 earnings report, saying the drivers behind his January upgrade are intact as the investment story improves in 2019 against a discounted valuation. Bittner, who maintains an Outperform rating and $20 price target, says his analysis also suggests the Street's earnings and free cash flow estimates through the end of 2020 have been set conservatively with attractive risk/reward.
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