Market Report -- Short Stories (WEN)
November 25, 2009 9:42 AM ET
Wendy's: Meeting with management adds confidence to turnaround - RBC Capital Mkts . RBC Capital Mkts recently met with with CEO and CFO at the co's Atlanta headquarters. Firm came away more positive on WEN shares due to increased confidence that the profit improvement plans at Wendy's are being realized, which should help buffer softer than expected same store sales. RBC also has greater confidence that this team can resurrect the Wendy's brand, given its focus on maintaining a high quality perception. Firm is maintaining its Sector Perform rating, however, as it expects soft sales trends at Wendy's to continue given the challenging comparisons and high levels of competitive discounting, and as Arby's may continue to be a drag on the overall business.
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