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Fly News Breaks for November 25, 2019
WEN
Nov 25, 2019 | 04:55 EDT
Stifel analyst Chris O'Cull upgraded Wendy's to Buy from Hold with a price target of $25, up from $22. The analyst left recent management meetings with greater confidence in the company's sales and EBITDA drivers over the next few years, especially the breakfast launch planned for 2020. National advertising to build awareness and franchisee support will likely lead to a successful breakfast launch, O'Cull tells investors in a research note. Further, he believes investors are skeptical Wendy's new day-part can become a meaningful profit contributor.
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