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Fly News Breaks for May 8, 2019
WEN
May 8, 2019 | 17:49 EDT
Stephens analyst Will Slabaugh raised his price target on Wendy's to $22 and kept his Overweight rating after its Q1 results showed improvement. The analyst cites the positive trend of customers being willing to shift to a $5 promotion from the "4 for $4 and believes that the premium promotions are "working well" in the current economic cycle. Slabaugh believes that Wendy's "balanced menu approach" will position its stores and franchisees for growth, helping comps recover to historical 2% average.
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