Wendy's

WEN · NASDAQ

$6.52−$0.16 (−2.40%)TodayMarket closed · Oct 20, 7:58 PM ET

Prev close $6.68

WEN analyst rating

HoldConsensus of 17 analysts over the last 12 months. 12% rate it a buy.

Strong buy0
Buy2
Hold11
Underperform3
Sell1

12-month price target · 20 analysts

Average $7.78 (+19.4% upside)

Low: $5.05
Now: $6.52
High: $11.55

Upgrades and downgrades

The latest rating actions, newest first

WEN analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Stephens & Co.	Oct 15, 2026	Maintains	Equal-Weight	$8.00 → $7.00	24%
Seaport Global	Sep 16, 2026	Initiates	Neutral	—	53%
Citigroup	Sep 1, 2026	Maintains	Neutral	$8.00 → $8.25	57%
Citigroup	Aug 10, 2026	Maintains	Neutral	$7.25 → $8.00	57%
Citigroup	Jul 28, 2026	Maintains	Neutral	$7.75 → $7.25	57%
Stephens & Co.	Jun 23, 2026	Maintains	Equal-Weight	$8.00	24%
Argus Research	May 13, 2026	Upgrade	Hold → Buy	$12.00	75%
TD Cowen	May 12, 2026	Maintains	Hold	$6.00	33%
BMO Capital	May 11, 2026	Maintains	Market Perform	$9.00 → $8.00	51%
Citigroup	May 11, 2026	Maintains	Neutral	$7.25 → $7.75	57%

The case for and against

Updated Oct 21, 2026

Bull case

Wendy's is well-positioned fundamentally because its stock performance this year is expected to track sustained sequential comp improvement, cleaner franchisee economics, and broader implementation of the Project Fresh playbook across the system. The company’s asset-light model across Wendy’s U.S., Wendy’s International, and Global Real Estate & Development supports recurring royalties, franchise fees, advertising fund collections, and real estate income, which can help drive steadier cash generation and margin resilience. Upside could also come from a better-than-expected breakfast launch, stronger macroeconomic conditions, and an improving international story, all of which would reinforce systemwide growth and franchisee health.

Bear case

Wendy's is facing a difficult fundamental setup because the restaurant industry is mature, highly competitive, and exposed to weaker consumer spending, which can quickly pressure traffic and sales during recessions, low confidence, or unemployment spikes. Its growth strategy also carries execution risk, as unit expansion and international development can create cannibalization, inefficiencies, and scaling issues, while the company’s pivot away from value may weigh on demand more than expected. Margin pressure is another concern, with food and labor inflation threatening profitability and roughly 40% of the food basket concentrated in beef and chicken, alongside added uncertainty from potential strategic transactions that may not materialize.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.