Reported 13 days ago
Bernstein has maintained its Market Perform rating and $12.00 price target on The Wendy’s Company (NASDAQ:WEN) in light of the new strategic initiative, Project Fresh, aimed at revitalizing the brand and improving operational efficiencies. The initiative marks a shift from aggressive unit expansion towards enhancing franchise profitability and average unit volumes. Although the company has seen a substantial decline in share price and reduced its dividend by 44% in May, it remains committed to regular dividend payments. Bernstein anticipates that the new focus may impact short-term sales and growth projections.
Source: YAHOO