Truist has adjusted its outlook on Wendy's (WEN, Financial), reducing the price target from $19 to $17 while maintaining a Buy rating. The decision, led by analyst Jake Bartlett, reflects potential challenges as the company's upcoming quarterly earnings may miss expectations.
The revision is based on Truist Card Data, which anticipates shortfalls in the first-quarter performance of limited-service restaurants, amidst broader economic uncertainties. Despite these challenges, Wendy's has been leveraging innovative strategies and promotional efforts, which are helping to counterbalance the adverse macroeconomic environment, according to Truist's analysis.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 22 analysts, the average target price for The Wendy's Co (WEN, Financial) is $16.51 with a high estimate of $26.00 and a low estimate of $13.00. The average target implies an upside of 31.15% from the current price of $12.59. More detailed estimate data can be found on the The Wendy's Co (WEN) Forecast page.
Based on the consensus recommendation from 29 brokerage firms, The Wendy's Co's (WEN, Financial) average brokerage recommendation is currently 2.9, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for The Wendy's Co (WEN, Financial) in one year is $22.65, suggesting a upside of 79.9% from the current price of $12.59. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the The Wendy's Co (WEN) Summary page.
