UPDATE: Jefferies Maintains YUM! Brands at Hold; China Uncertainty an Overhang
Jefferies reiterated its Hold rating and $70 price target on YUM! Brands (NYSE: YUM) ahead of the company's December 6 Analyst Day.
Jefferies noted, "Stock to sell off as YUM tempered its 4Q China outlook in advance of its Dec 6 analyst day. '13 EPS to be at least +10% ($3.56 vs. cons $3.74), but China growth driven more by development given SSS uncertainty. '12 EPS growth of at least +13% reiterated, but 4Q to be tough on -4% China SSS. We will tweak our ests after the mtg, but think Street ests could come down as China expectations reset."
YUM! Brands closed at $74.47 on Thursday.
Latest Ratings for YUM
|Sep 2016||RBC Capital||Downgrades||Top Pick||Outperform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.