UPDATE: RBC Capital Markets Initiates Coverage on Wendy's on Valuation, Uncertain Sales Trajectory

In a report published Friday, RBC Capital Markets analyst David Palmer initiated coverage on The Wendy's Company (NASDAQ: WEN ) with a Sector Perform rating and $8.50 price target. In the report, RBC Capital Markets noted, “Wendy's challenge as a mature concept will be to stay relevant in the eyes