NEW YORK (TheStreet) -- Shares of Wendy's Co. (WEN) are down -0.24% to $8.25 after it was reported that the company is leaving the Russian market after three years, following a change in the local franchisee's management, Bloomberg reports.
The country's eight Wendy's outlets are being shut down, a spokesman for Wendy's said by e-mail in a response to Bloomberg questions.
Wenrus Restaurant Group, a former unit of Moscow-based Food Service Capital, had agreed in 2010 to open 180 restaurants under the format across Russia within a decade, Bloomberg said.
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TheStreet Ratings team rates WENDY'S CO as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate WENDY'S CO (WEN) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, growth in earnings per share, compelling growth in net income, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: