#2 - Wendy’s (NASDAQ:WEN)
If you’re going to have McDonald’s, you might as well add Wendy’s (NASDAQ:WEN). But this isn’t just a question of competition. Wendy’s is standing on its own two feet and making itself extremely relevant in a crowded field.
And one of the reasons for that has been the surprising success of its breakfast menu. The company must have felt cursed when it introduced the breakfast offerings in March. The week before much of the nation shut down, the chain launched breakfast and saw overall sales increase by 15%.
There was a lot of concern about the company’s ability to keep this momentum going throughout the pandemic. And that was reflected in WEN stock price which dropped approximately 70% from February 21 through March 18. But then the company started seeing stable sales, particularly with its breakfast offerings.
It also hasn’t hurt that the company delivered earnings where earnings were essentially in-line with analysts’ expectations. No company will be ready to take victory laps anytime soon, but Wendy’s looks well-positioned to be a strong player as the economy reopens.
About Wendy's
The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.
Read More - Current Price
- $20.07
- Consensus Rating
- Hold
- Ratings Breakdown
- 3 Buy Ratings, 12 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $22.53 (12.2% Upside)
