UBS lowered the firm's price target on Wendy's ( WEN ) to $17 from $20 and keeps a Neutral rating on the shares. The firm has a more optimistic view on the U.S. restaurant sector sales outlook for 2025 as UBS anticipates the U.S. macro backdrop and industry environment will modestly improve, the analyst tells investors in a research note. Margins should improve for many companies in 2025 given benign food inflation, with traffic a key variable, and risks from less pricing, ongoing labor inflation, and elevated discounting activity, UBS says.