Wendy’s turnaround faces deeper closures as Jefferies cuts forecasts

The Wendy's Company (NASDAQ:WEN), the US fast-food chain, faces a longer and more expensive turnaround as Jefferies cuts earnings forecasts and lowers its price target to $6.50 from $7.50. The broker maintains a 'hold' rating, arguing that soft quick-service restaurant (QSR) industry trends,...