Truist Securities analyst Jake Bartlett reiterated a Buy rating on the shares of The Wendy's Co (NASDAQ: WEN) with a price target of $26.
WEN management acknowledges stiff competition from a dominant McDonald's Corporation (NYSE: MCD) and Restaurant Brands International Inc (NYSE: QSR) owned resurgent Burger King, but believes all three can be successful in the current environment, given an increasing sales pie and share gains from smaller competitors, said the analyst.
The share gains, according to the analyst, are being driven by scale advantages, including technology investments (growth in digital, including use of data, and eventually AI-based ordering).
The analyst ...