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PZZA

Papa John's

$53.60

2.06 (4.00%)

, WEN

Wendy's

$17.76

0.34 (1.95%)

08:33
07/19/18
07/19
08:33
07/19/18
08:33

Odds low of Wendy's buying Papa John's, says Stephens

After The Wall Street Journal reported that Papa John's (PZZA) founder and former CEO John Schnatter had begun preliminary merger talks with Wendy's (WEN) before he stepped down as chairman, Stephens analyst Will Slabaugh said he views the likelihood of the burger chain acquiring Papa John's as low. However, the report, if true, confirms that Papa John's is willing to entertain M&A opportunities, said Slabaugh, who continues to view the company as an attractive long-term asset in a quick growing space and keeps an Overweight rating on the stock.

PZZA

Papa John's

$53.60

2.06 (4.00%)

WEN

Wendy's

$17.76

0.34 (1.95%)

  • 08

    Aug

  • 15

    Aug

PZZA Papa John's
$53.60

2.06 (4.00%)

07/12/18
SPHN
07/12/18
NO CHANGE
Target $70
SPHN
Overweight
'Papa' John Schnatter's resignation should help stem risks, says Stephens
Stephens analyst Will Slabaugh said the resignation of John Schnatter as Chairman of the Board at Papa John's should help stem what had likely been an elevated risk of the company losing various partnerships and sponsorship deals. He looks for the company to now direct its focus toward mitigating the bad publicity from Schnatter alleged use of a racial slur on a conference call and then addressing the multiple avenues he sees available for new opportunity. Slabaugh, who still believes in the brand's positioning and growth potential, keeps an Overweight rating and $70 price target on Papa John's shares.
07/11/18
STFL
07/11/18
NO CHANGE
Target $50
STFL
Hold
Papa John's founder's comments 'potentially a major setback,' says Stifel
After Forbes published an article detailing an incident in which founder and chairman John Schnatter used the "N-word" on a May conference call between company executives and marketing agency Laundry Service, Stifel analyst Chris O'Cull said the comments are "potentially a major setback," for the company, which was beginning to work through the PR incident in November 2017 regarding Schnatter's comments that Papa John's sales were hurt by the NFL's handling of protests by players who knelt during the National Anthem. While the company's social media activity had returned to normal levels over the last three months, O'Cull says this incident "seems to have brought old issues back to the forefront" of consumers' minds. He is also concerned that brand sentiment will turn meaningfully negative for a sustained period of time, possibly impacting the company's relationships with local NFL teams and the MLB. O'Cull has a Hold rating and $50 price target on Papa John's and expects a modest EPS decline in 2018 due to pressure from negative SRS and investments to improve the customer experience. Long-term EPS growth is seen in the 10%-15% range rather than the historical 20%+ range due to less domestic growth potential.
05/09/18
05/09/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Crocs (CROX) downgraded to Hold from Buy at Stifel with analyst Jim Duffy saying he believes the stock has "adequately" re-rated to discount fiscal 2019 earnings power. 2. Monster Beverage (MNST) downgraded to Neutral from Overweight at JPMorgan with analyst Andrea Teixeira saying she sees a "difficult road ahead" for the company following its first quarter results. 3. Adient (ADNT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Armintas Sinkevicius saying that recent management commentary appears to have taken the potential for strategic action involving the underperforming metals business off the table. 4. Ironwood (IRWD) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst David Lebowitz saying he believes management's target of Linzess U.S. sales exceeding $1B by 2020 could be a challenge given the recent deceleration in volume growth. 5. Papa John's (PZZA) downgraded to Neutral from Buy at Longbow with analyst Alton Stump saying he is concerned Papa John's may not have a recovery in comps in the near-term and recommends investors wait for a significant pullback and or evidence same-store-sales being to recover in the coming quarters before becoming constructive on shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/09/18
05/09/18
DOWNGRADE

Neutral
Papa John's downgraded to Neutral following comp miss at Longbow
As previously reported, Longbow downgraded Papa John's to Neutral from Buy following the Q1 earnings and comp miss. Analyst Alton Stump is concerned Papa John's may not have a recovery in comps in the near-term and recommends investors wait for a significant pullback and or evidence same-store-sales being to recover in the coming quarters before becoming constructive on shares.
WEN Wendy's
$17.76

0.34 (1.95%)

05/15/18
STFL
05/15/18
NO CHANGE
Target $20
STFL
Buy
Wendy's pullback creates buying opportunity, says Stifel
Stifel analyst Chris O'Cull said he views the pullback in Wendy's shares following its Q1 earnings as a buying opportunity because severe winter weather impacting company-owned restaurants was the reason for the miss compared to expectations and nothing from the report changed his investment thesis. He maintains a Buy rating and $20 price target on Wendy's shares.
03/20/18
03/20/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Wendy's (WEN) initiated with a Perform at Oppenheimer. 2. Adesto Technologies (IOTS) initiated with a Buy at B. Riley FBR. 3. M.D.C. Holdings (MDC) initiated with a Neutral at Wedbush. 4. Marinus Pharmaceuticals (MRNS) initiated with a Buy at Mizuho. 5. J.B. Hunt (JBHT) initiated with a Buy at Argus. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/19/18
OPCO
03/19/18
INITIATION
OPCO
Perform
Wendy's initiated with a Perform at Oppenheimer
Oppenheimer analyst Brian Bittner initiated Wendy's with a Perform rating, saying the company's investment story is focused around the management's 75% growth target for free cash flows based on accelerating sales, lower capital expenses, and positive tax changes. The analyst notes that while the company is "executing solidly", his Perform rating is based on financial targets already "baked in" to valuation and some "meaningful dependence" of free cash flow projections on strong comps and unit offerings. Bittner add that he is "positively biased" on any "irrational pullbacks" in the stock price.
03/15/18
MZHO
03/15/18
INITIATION
Target $19
MZHO
Buy
Wendy's initiated with a Buy at Mizuho
Mizuho analyst Jeremy Scott initiated Wendy's with a Buy and $19 price target.

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