Morgan Stanley Sees China Sales in the Red Again for Yum! Brands

In a report published Thursday, Morgan Stanley analyst John Glass reiterated an Equal-Weight rating on

. In the report, Morgan Stanley noted, “The fact that China sales were adversely impacted by the most recent supplier issue (first commented on in July) should not come as a surprise, though the magnitude (-13%) was not known. N/C to our below consensus ests as this is in-line with our expectations. Consensus still needs to come down.” Yum! Brands closed on Wednesday at $71.48.