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The Wendy's Company Message Board

  • novalmer novalmer Sep 12, 2013 8:22 AM Flag

    WEN Wendy's upgraded to Buy at Argus; tgt $10



    Wendy's upgraded to Buy at Argus; tgt $10

    Argus upgrades WEN to Buy from Hold and sets target at $10. Firm expects restaurant remodeling, improved value menus, and new premium products to drive sales higher. Firm also believes that the co's plans to refranchise 425 units will boost average unit volumes, expand margins, and provide more reliable cash flow. Firm likes mgmt's efforts to eliminate costs related to an unsuccessful foray into the breakfast segment, and to reduce interest expense through debt refinancing. In all, Argus expects sales and margin improvements to result in more rapid earnings growth over the next several years.

    Sentiment: Strong Buy

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    • It's Friday the 13th, and yet another Anyalyst has upgraded WEN Today ...

      KeyBanc Capital Markets analyst raised his rating for Wendy's on Friday, saying the restaurant operator's new products and media strategy are striking the right note.

      Christopher O'Cull said in a client note that when Wendy's Co. launched the pretzel bacon cheeseburger over the summer it showed that the chain has found a way to drive sales by coming up with new products that meet consumers' expectations and using the right media approach. The analyst said that he noticed Wendy's started using more 15-second television advertisements in the third quarter, which he deemed possible because consumers are becoming more familiar with its new advertising character "Red."

      O'Cull is also optimistic that new Chief Financial Officer Todd Penegor will be able to improve the way Wendy's assesses menu changes, promotions and capital investments. The analyst says that Penegor's prior experience with Kellogg will help Wendy's avoid value-oriented promotions that wind up not generating enough transactions to offer the lower margin products.

      O'Cull boosted Wendy's to "Hold" from "Underweight."

      Sentiment: Strong Buy

8.30+0.04(+0.48%)Jul 22 4:00 PMEDT

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