Wendy's up after J.P. Morgan upgrades to 'overweight'

Shares of burger chain Wendy's WEN.O up 1.2% at $12.70 premarket

Brokerage J.P. Morgan upgrades rating on stock to "overweight" from "neutral"; sees "significant upside" to equity value

Wendy’s is far from the biggest, but after 50 years of brand presence, can at least claim its own identity within the national QSR burger space - brokerage

Expects mid-to-high single-digit free cash flow yields in FY26 to FY28 as store economics stabilize and start to improve

Brokerage cuts PT to $15 from $17

Average rating of 29 analysts is "hold"; with a median PT of $14 - data compiled by LSEG

Up to last close, stock has fallen ~23% YTD