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Benzinga
Benzinga
Business
Shivani Kumaresan

BMO Capital Downgrades This Restaurant Chain - Read Why

  • BMO Capital analyst Andrew Strelzik downgraded Wendy's Co (NASDAQ:WENto Market Perform from Outperform with a reduced price target of $22, down from $28, implying a 5.31% upside.
  • The analyst believes the company is less well-positioned to handle a tighter U.S. consumer spending environment than its peers against rising pressures on discretionary spending.
  • Thus, Strelzik sees greater risk to sales and margin expectations.
  • Price Action: WEN shares are trading lower by 1.72% at $20.53 in premarket on Monday's last check.
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