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WEN

Wendy's

$16.46

0.145 (0.89%)

10:29
01/09/19
01/09
10:29
01/09/19
10:29

Wedbush downgrades Wendy's to Neutral on consensus estimate risk

Wedbush analyst Nick Setyan earlier today downgraded Wendy's to Neutral from Outperform and lowered his price target for the shares to $17.50 from $20. On the flip side, Oppenheimer analyst Brian Bittner this morning upgraded the fast food chain to Outperform from Perform. Channel checks for Q4 suggest a system comp slightly below consensus, Setyan tells investors in a research note. His checks imply Wendy's Q4 same-store-sales grew slightly below the 0.6% consensus for North America. The analyst now believes there is risk to near- and medium-term SSS growth and margin expectations.

WEN Wendy's
$16.46

0.145 (0.89%)

01/09/19
WEDB
01/09/19
DOWNGRADE
WEDB
Neutral
Wendy's downgraded to Neutral from Outperform at Wedbush
01/09/19
01/09/19
UPGRADE
Target $20

Outperform
Wendy's upgraded to Outperform on improved setup at Oppenheimer
As previously reported, Oppenheimer analyst Brian Bittner upgraded Wendy's to Outperform from Perform, with a $20 price target, as dynamics of an improved setup are attractive. The analyst notes that his work reveals an "intriguing setup" as Street's earnings and free cash flow estimates through 2020 have reset to levels that create an improved scenario for meets or beats, same-store sales appear to have drivers to accelerate into 2019 against conservative sell-side forecasts of sub-2% perpetually, new international strategy could unlock faster-than-expected long-term unit growth, which is yet to be appreciated by investors, and valuation at about 8% free cash flow yield implies very attractive upside/downside case against a highly stable financial model.
01/09/19
01/09/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Nike (NKE) upgraded to Buy from Hold at HSBC. 2. Bank of America (BAC) upgraded to Buy from Hold at Edward Jones and to Buy from Neutral at UBS. 3. Wendy's (WEN) upgraded to Outperform from Perform at Oppenheimer with analyst Brian Bittner saying his work reveals an "intriguing setup" as Street's earnings and free cash flow estimates through 2020 have reset to levels that create an improved scenario for meets or beats, same-store sales appear to have drivers to accelerate into 2019 against conservative sell-side forecasts of sub-2% perpetually, new international strategy could unlock faster-than-expected long-term unit growth, and valuation at about 8% free cash flow yield implies very attractive upside/downside case against a highly stable financial model. 4. Akamai (AKAM) upgraded to Overweight from Sector Weight at KeyBanc with analyst Brandon Nispel saying his data tracker suggests upside to Q4 revenue, decreasing the risk to a Q1 and 2019 guide below expectations. 5. Foot Locker (FL) upgraded to Outperform from Neutral at Baird with analyst Jonathan Komp citing its relative valuation and strong backward looking indicators providing reason for optimism. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/09/19
01/09/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Nike (NKE) downgraded to Neutral from Outperform at Baird with analyst Jonathan Komp citing its relative valuation and concerns about its high P/E premium. 2. Oracle (ORCL) downgraded to Equal Weight from Overweight at Barclays with analyst Raimo Lenscho saying the competitive situation in the company's core database market and cloud is "not getting easier." 3. Wendy's (WEN) downgraded to Neutral from Outperform at Wedbush. 4. Booking Holdings (BKNG) downgraded to Equal Weight from Overweight at Morgan Stanley and to Hold from Buy at Jefferies. 5. United Continental (UAL) downgraded to Underperform from In-Line at Imperial Capital while Delta Air Lines (DAL) was downgraded to In-Line from Outperform. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

NTR

Nutrien

$54.43

1.075 (2.02%)

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AKRX

Akorn

$4.03

-0.42 (-9.44%)

, FSNUY

Fresenius SE

$0.00

(0.00%)

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Akorn 'strongly contests' Fresenius' proposed amended claims »

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FSNUY

Fresenius SE

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MESO

Mesoblast

$4.28

0.13 (3.13%)

17:26
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Earnings
Mesoblast reports 1H19 $44.1M loss versus 1H18 profit of $6.7M »

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KODK

Kodak

$3.03

-0.045 (-1.47%)

17:21
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Kodak names Jim Continenza executive chairman »

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MIC

Macquarie Infrastructure

$43.17

-0.2 (-0.46%)

17:20
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Macquarie Infrastructure sees FY19 EBITDA $610M-$635M vs. $601.9M last year »

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  • 21

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MIC

Macquarie Infrastructure

$43.17

-0.2 (-0.46%)

17:19
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Macquarie Infrastructure reports Q4 adj. EBITDA $152.4M vs. $159.6M last year »

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  • 21

    Feb

CAKE

Cheesecake Factory

$46.42

-0.07 (-0.15%)

17:16
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Breaking Hot Stocks news story on Cheesecake Factory »

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CAKE

Cheesecake Factory

$46.42

-0.07 (-0.15%)

17:16
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Earnings
Cheesecake Factory sees Q1 adjusted EPS 58c-62c, consensus 61c »

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HTBK

Heritage Commerce

$14.17

0.17 (1.21%)

17:15
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02/20
17:15
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17:15
Hot Stocks
Heritage Commerce director Robert Moles sells almost 50K shares »

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CVI

CVR Energy

$42.99

0.325 (0.76%)

17:12
02/20/19
02/20
17:12
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17:12
Earnings
CVR Energy reports Q4 EPS 82c, consensus 98c »

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  • 21

    Feb

VMI

Valmont

$139.23

1.56 (1.13%)

17:09
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02/20
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Valmont, Prospera Technologies announce partnership »

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  • 21

    Feb

RGR

Sturm, Ruger

$59.60

0.505 (0.85%)

17:08
02/20/19
02/20
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Sturm, Ruger declares Q4 dividend of 28c per share vs. 21c in Q3 »

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  • 21

    Feb

RGR

Sturm, Ruger

$59.60

0.505 (0.85%)

17:06
02/20/19
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Earnings
Sturm, Ruger reports Q4 adjusted EPS 69c, one estimate 79c »

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  • 21

    Feb

SM

SM Energy

$19.70

0.61 (3.20%)

17:05
02/20/19
02/20
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Hot Stocks
SM Energy sees FY19 total production 45-48 MMBoe »

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  • 21

    Feb

KREF

KKR Real Estate Finance

$20.21

-0.1 (-0.49%)

17:05
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Earnings
KKR Real Estate Finance reports Q4 core EPS 38c, consensus 41c »

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SM

SM Energy

$19.70

0.61 (3.20%)

17:04
02/20/19
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Earnings
SM Energy sees Q1 total production 10.5-10.9 MMBoe »

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SM

SM Energy

$19.70

0.61 (3.20%)

17:04
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Earnings
SM Energy reports Q4 adjusted EPS (18c), consensus (14c) »

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  • 21

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VVV

Valvoline

$19.86

0.52 (2.69%)

17:04
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Valvoline enters quick lube joint venture in China with The Master Too »

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MNKD

MannKind

$1.47

-0.02 (-1.34%)

17:03
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MannKind to present new positive Afrezza clinical data at ATTD »

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  • 26

    Feb

LYFT

Lyft

$0.00

(0.00%)

, UBER

Uber

$0.00

(0.00%)

17:03
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Periodicals
Lyft plans roadshow for IPO week of March 18, Reuters says »

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LYFT

Lyft

$0.00

(0.00%)

UBER

Uber

$0.00

(0.00%)

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EMCF

Emclaire Financial

$30.12

-0.88 (-2.84%)

17:03
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02/20
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Hot Stocks
Emclaire Financial increases quarterly dividend 3.6% »

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  • 24

    Apr

ATR

AptarGroup

$102.12

0.69 (0.68%)

17:01
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02/20
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Earnings
Breaking Earnings news story on AptarGroup »

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  • 21

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  • 01

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CBFV

CB Financial Services

$26.22

0.6 (2.34%)

17:01
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Hot Stocks
CB Financial Services raises quarterly dividend 4.3% to 24c from 23c per share »

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EFX

Equifax

$107.90

-1.37 (-1.25%)

17:01
02/20/19
02/20
17:01
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Earnings
Equifax sees FY19 EPS $5.60-$5.80, consensus $5.86 »

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  • 21

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ATR

AptarGroup

$102.12

0.69 (0.68%)

17:01
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Earnings
Aptar reports Q4 adjusted EPS 92c, consensus 85c »

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  • 21

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