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Fly News Breaks for June 25, 2019
WEN
Jun 25, 2019 | 08:21 EDT
As previously reported, Credit Suisse analyst Lauren Silberman initiated Wendy's with a Neutral and $20 price target, with shares trading near peak and limited visibility into a meaningful inflection in top-line trends. Following the company's transformation over the last several years, its business model reflects an improved and more consistent free cash profile, she contends. But the story shifts to execution, and the analyst is cautious on a meaningful acceleration in same-store sales and unit growth from recent levels.
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