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Wendy's stock rises after upgrade on bullish breakfast sales outlook
Wendy's Co. shares rose 2.8% in Monday premarket trading after it was upgraded to buy from hold at Stifel on analysts' bullish outlook for the 2020 breakfast launch. Stifel raised its price target to $25 from $22. Analysts think the new menu items will be a sales and EBITDA driver. Unlike previous attempts to add breakfast to the menu, Stifel says Wendy's will quickly raise awareness for the offering through advertising and has franchisees on board with the launch after including them in the two-year process of bringing it to restaurants. Wendy's says it will put $20 million behind the breakfast launch, and the new items will account for 10% of sales. Wendy's stock is up 34% for the year to date, outpacing the S&P 500 index , which is up 24% for the period.
https://finance.yahoo.com/m/a98cb50.../wendy's-stock-rises-after.html?.tsrc=rss
Wendy's Co. shares rose 2.8% in Monday premarket trading after it was upgraded to buy from hold at Stifel on analysts' bullish outlook for the 2020 breakfast launch. Stifel raised its price target to $25 from $22. Analysts think the new menu items will be a sales and EBITDA driver. Unlike previous attempts to add breakfast to the menu, Stifel says Wendy's will quickly raise awareness for the offering through advertising and has franchisees on board with the launch after including them in the two-year process of bringing it to restaurants. Wendy's says it will put $20 million behind the breakfast launch, and the new items will account for 10% of sales. Wendy's stock is up 34% for the year to date, outpacing the S&P 500 index , which is up 24% for the period.
https://finance.yahoo.com/m/a98cb50.../wendy's-stock-rises-after.html?.tsrc=rss
