UPDATE: Morgan Stanley Raises Yum! Brands PT

According to a research report published this morning, Morgan Stanley has increased Yum! Brands

PT to $79. Morgan Stanley said in the report, “YUM delivered against high 1Q expectations. Even as China failed to match unrealistically high comp expectations, better US & YRI comps combined with mid-teens op profit growth & a clean EPS beat was enough to satisfy.” Morgan Stanley maintains its Overweight rating on Yum!, which is currently trading at $71.47.