In a report released yesterday, Jeff Bernstein from Barclays maintained a Buy rating on Wendy’s (WEN), with a price target of $24.00. The company’s shares closed last Wednesday at $20.21.
According to TipRanks.com, Bernstein is a 5-star analyst with an average return of 6.2% and a 65.0% success rate. Bernstein covers the Services sector, focusing on stocks such as Restaurant Brands International, Performance Food Group, and Brinker International.
Currently, the analyst consensus on Wendy’s is a Moderate Buy with an average price target of $20.11, which is a -2.3% downside from current levels. In a report issued on May 5, Stephens also maintained a Buy rating on the stock with a $24.00 price target.
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Based on Wendy’s’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $427 million and net profit of $26.53 million. In comparison, last year the company earned revenue of $398 million and had a net profit of $18.83 million.
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The Wendy’s Co. engages in operating, developing, and franchising a system of quick-service restaurants. It offers hamburgers and related products, such as chicken breast sandwiches, nuggets, chili, and baked potatoes, French fries, freshly prepared salads, soft drinks, milk, coffee, frosty deserts and kid’s meals. The company was founded by R. David Thomas on November 15, 1969 and is headquartered in Dublin, OH.