UPDATE: Citigroup Reiterates Neutral Rating, Lowers PT on Yum! Brands
In a report published Monday, Citigroup reiterated its Neutral rating on Yum! Brands (NYSE: YUM), but slightly lowered its price target from $71.00 to $70.00.
Citigroup noted, “At YUM US, Taco Bell sales trends were solid and KFC sales trends were OK, while Pizza Hut saw a drop off. Given updated China trends, we're lowering our '12-'14 EPS ests by 2c, 3c, and 3c respectively. Lowering target price by $1 to reflect our lower estimates.”
Yum! Brands closed on Friday at $66.87.
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