- Argus Research analyst John Staszak upgraded The Wendy's Co WEN to Buy from Hold at a price target of $26.
- The analyst is bullish on the fast-food chain's store expansion, solid international growth, increased digital business investment, and a breakfast service focus.
- Also, Staszak believes WEN shares are undervalued at 23x its 2023 EPS estimate, below the restaurant chains' peer average.
- However, the analyst sees competitive pressure, commodity inflation, and higher labor and utility costs as a matter of concern.
- Last week, Wendy's reported first-quarter FY23 sales growth of 8.2% year-on-year to $528.81 million, beating the consensus of $522.43 million on strong international performance.
- Post Q1 earnings, BMO Capital raised the price target on Wendy's to $24 from $23 at a Market Perform rating, and Credit Suisse increased the price target to $25 from $24 at a Neutral rating.
- Also read: Wendy's Wants To Kiss Queues Goodbye With Underground AI-Powered Robot Deliveries
- Price Action: Wendy's shares are trading higher by 0.15% at $23.54 on last check Friday.
- Photo via Wikimedia Commons
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WENThe Wendy's Co
$12.50-0.39%
Edge Rankings
Momentum
14.99
Growth
47.91
Quality
9.83
Value
39.54
Price Trend
Short
Medium
Long
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