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Fly News Breaks for March 20, 2019
Mar 20, 2019 | 07:33 EDT
Mizuho analyst Jeremy Scott downgraded Wendy's to Neutral from Buy and lowered his price target for the shares to $18 from $20. After analyzing international master franchise partnerships, the analyst sees a "low survival rate and a much lower success rate," particularly for brands with unproven portability into international markets. He believes consensus estimates for Wendy's are too aggressive.
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