BUZZ-Wendy's down after JP Morgan downgrades to 'underweight'

Wendy's Company

Wendy's Company

WEN

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** Shares of fast food chain Wendy's WEN.O down about 3% at $7.09 premarket

** JP Morgan downgrades to "underweight" from "neutral"; cuts PT to $6 from $7

** Brokerage says co’s U.S. same-store sales continue to decline sharply while there is low visibility on management’s targeted 2H26 recovery amid intense value competition

** Weaker franchise profitability and lack of permanent leadership to limit reinvestment and strategic flexibility - JP Morgan

** 3 of 28 brokerages rate the stock "buy" or higher, 19 "hold", 6 "sell"; their median PT is $8 - data compiled by LSEG

** As of last close, WEN stock down 12% YTD


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