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WEN

Wendy's

$21.10

1.095 (5.48%)

10:55
10/11/19
10/11
10:55
10/11/19
10:55

Wendy's sees 4%-5% annual systemwide sales growth from 2021-2024

In its Investor Day presentation slides, Wendy's said it saw high single-digit adjusted EBITDA growth annually from 2021-2024, and free cash flow growth in-line with adjusted EBITDA growth over that time period.

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    Nov

WEN Wendy's
$21.10

1.095 (5.48%)

10/02/19
BMOC
10/02/19
NO CHANGE
Target $24
BMOC
Outperform
Wendy's price target raised to $24 from $21 at BMO Capital
BMO Capital analyst Andrew Strelzik raised his price target on Wendy's to $24 and kept his Outperform rating. The analyst is positive on the company's upcoming rollout of breakfast items, noting that he sees its "attractive" free cash flow potential following the investment in the initiative as "overlooked". Strelzik adds that his expected free cash flow generation estimate of $315M-$335M by FY22 would come 1-2 years earlier than he expected before Wendy's announcement of breakfast rollout.
10/07/19
COWN
10/07/19
DOWNGRADE
COWN
Market Perform
Wendy's downgraded to Market Perform from Outperform at Cowen
Cowen analyst Andrew Charles downgraded Wendy's to Market Perform from Outperform.
10/07/19
COWN
10/07/19
DOWNGRADE
Target $20
COWN
Market Perform
Wendy's downgraded to Market Perform at Cowen
As reported previously, Cowen analyst Andrew Charles downgraded Wendy's to Market Perform from Outperform. The analyst said the company's decision to shift its focus from recovery to breakfast roll-out does not create a long-term competitive advantage as other companies have underperformed at Breakfast. The analyst lowered his price target to $20 from $22 on Wendy's shares.
10/07/19
10/07/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Entegris (ENTG) downgraded to Hold from Buy at Deutsche Bank with analyst Sidney Ho saying the company's financial performance has done well in 2019 despite the semicap equipment market reeling from a sharp decline in memory spending. 2. Wendy's (WEN) downgraded to Market Perform from Outperform at Cowen with analyst Andrew Charles saying the company's decision to shift its focus from recovery to breakfast roll-out does not create a long-term competitive advantage as other companies have underperformed at Breakfast. 3. Carnival (CCL) downgraded to Hold from Buy at HSBC with analyst Ali Naqvi saying he reduced his target multiple for the shares to 10-times from 15-times to reflect Carnival's lower yield growth outlook, weak booking commentary and increasing capacity growth relative to peers. 4. HP Inc. (HPQ) downgraded to Hold from Buy at Argus with analyst Jim Kelleher citing its Analyst Day presentation, FY20 guidance, and announced job cuts, noting that the company's most profitable print & imaging business continues to struggle. 5. Ingersoll-Rand (IR) downgraded to Equal Weight from Overweight at Stephens with analyst Rob McCarthy saying he sees incremental concern for growth and sustainability of the HVAC cycle, and lowered his price target on the stock to $122, down from $124. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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HSBC

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STT

State Street

$63.40

3.69 (6.18%)

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SUN

Sunoco

$32.43

0.32 (1.00%)

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TLF

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TLF

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AAPL

Apple

$236.29

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JPM

JPMorgan

$120.60

0.21 (0.17%)

, FB

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$185.96

-4.435 (-2.33%)

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JPM

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FB

Facebook

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MasterCard

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GLD

SPDR Gold Shares

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TECK

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OSK

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OVLY

Oak Valley Bancorp

$16.40

-0.16 (-0.97%)

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FTNW

FTE Networks

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TNXP

Tonix Pharmaceuticals

$0.45

0.0048 (1.07%)

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RLMD

Relmada Therapeutics

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NWSA

News Corp.

$13.48

-0.19 (-1.39%)

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FB

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NYT

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WAIR

Wesco Aircraft

$11.01

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  • 24

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FOMX

Foamix

$3.15

-0.09 (-2.78%)

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POAI

Predictive Oncology

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  • 23

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BK

BNY Mellon

$45.34

0.975 (2.20%)

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FOMX

Foamix

$3.15

-0.09 (-2.78%)

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  • 18

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BAC

Bank of America

$30.37

0.1 (0.33%)

16:35
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LGC

Legacy Acquisition Corp

$10.24

0.02 (0.20%)

16:34
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Conference/Events
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MFGP

Micro Focus

$15.13

0.56 (3.84%)

, OTEX

OpenText

$39.30

-1.545 (-3.78%)

16:33
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MFGP

Micro Focus

$15.13

0.56 (3.84%)

OTEX

OpenText

$39.30

-1.545 (-3.78%)

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