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Fly News Breaks for February 27, 2020
Feb 27, 2020 | 08:49 EDT
MKM Partners analyst Brett Levy raised the firm's price target on Wendy's to $23 from $20 but keeps a Neutral rating on the shares. The analyst notes that the company's Q4 earnings were inline, but the guidance was "somewhat muted" given its planned foray into national breakfast offering starting in March. Levy adds that the breakfast menu addition represents a near-term catalyst for Wendy's, but after a 19% gain in the stock price since the announcement in September, that optimism may be priced in.