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WEN

Wendy's

$21.45

-0.22 (-1.02%)

06:55
12/02/19
12/02
06:55
12/02/19
06:55

Wendy's shares should approach $30 with breakfast 'success,' says Stephens

Stephens analyst Will Slabaugh said he believes that a decent level of "success," meaning a 5% lift or greater, for Wendy's from its new breakfast launch would "result in a stock price approaching $30," though he also believes breakfast success is now a necessary component of expecting stock outperformance from Wendy's. Slabaugh is sticking with his Q4 same-store sales growth estimate of 3% for Wendy's as he believes the "impressive momentum" seen in Q3 has largely continued. He keeps an Overweight rating and $26 price target on Wendy's shares.

  • 11

    Dec

WEN Wendy's
$21.45

-0.22 (-1.02%)

10/14/19
RHCO
10/14/19
NO CHANGE
Target $26
RHCO
Buy
Wendy's price target raised to $26 from $24 at SunTrust
SunTrust analyst Jake Bartlett raised his price target on Wendy's to $26 and kept his Buy rating after its Investor Day presentation outlining its plans to launch breakfast items, grow its digital sales, and accelerate its international development. The analyst notes that while the breakfast entry and international expansion efforts are difficult to implement, the details offered by the management give him greater confidence in Wendy's growth prospects. Bartlett is lowering his FY19 EPS view by 2c to 55c to reflect the investment cost impact of the initiatives, but sees the company's long-term guidance as strong.
11/06/19
SPHN
11/06/19
NO CHANGE
Target $24
SPHN
Overweight
Stephens 'encouraged' by sales trajectory in Wendy's core business
Stephens analyst Will Slabaugh said in a "first look" note reacting to Wendy's Q3 report that he is "encouraged" by the sales trajectory in its core business, especially ahead of the planned launch of breakfast in the first quarter of 2020. In addition to Q3 U.S. same-store sales growth of 4.4% that topped his and the consensus estimates prior to the company's pre-announcement at its at investor day, Slabaugh pointed to better adjusted EPS than was expected as a "surprise." Ahead of the company's earnings call, he has an Overweight rating and $24 price target on Wendy's shares.
11/25/19
STFL
11/25/19
UPGRADE
Target $25
STFL
Buy
Wendy's upgraded to Buy from Hold at Stifel
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.
11/25/19
11/25/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Deckers Brands (DECK) upgraded to Outperform from Market Perform at Wells Fargo with analyst Tom Nikic saying the stock's upside guidance potential amid improving weather outlook for the 2nd half of FY20 and also cites the company's "compelling" portfolio structure along with its "cash cow" UGG brand. 2. Wendy's (WEN) upgraded to Buy from Hold at Stifel with analyst Chris O'Cull saying he 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. 3. Hasbro (HAS) upgraded to Buy from Neutral at UBS with analyst Arpine Kocharyan saying expectations for the company have seen a "meaningful reset" after a weak Q3 results, but he sees upside in the stock thanks to the better than expected revenue and the cost synergies from Entertainment One acquisition, along with the momentum of its gaming portfolio. 4. Nvidia (NVDA) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Joseph Moore saying both of Nvidia's gaming and data center segments fell short of expectations over the course of 2019, but investments made this year in the gaming business should pay off in 2020 while recent Cloud commentary indicates that the inflection in "conversational AI" is real and new Nvidia products should ease concerns about competition in the data center segment. 5. Arrowhead (ARWR) upgraded to Outperform from Neutral at Baird with analyst Madhu Kumar saying Medicines Company's (MDCO) announcement of a definitive agreement to be acquired by Novartis (NVS) forces him to re-evaluate Arrowhead' RNAi platform, which is heavily levered to lipid-modifying RNAi drugs for cardiovascular disease. 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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