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  Wendy's downgraded at Smith Barney to 'sell'   
   
Analyst: Upcoming sales could be worst in 10 years

Smith Barney cut its rating of Wendy's International to "sell" from "hold," warning that the company may report its worst sales figures in a decade.

"Industry sources suggest to us that so far in Q4, the Wendy's brand same-store sales are trending downward by 5 percent to 6 percent, worse than the 1 percent to 3 percent decline we believe the Street generally anticipates," analyst Mark Kalinowski told clients in a note.

Kalinowski lowered his price target on the stock to $32 from $38.

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Date Listed: 2004-10-19

More news about: 
 Industry: Restaurants 
 Category: Financial 
 Wendys International

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