** 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

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))