Morgan Stanley Feels Confident In Yum! Brands Following Taco Bell Investor Day

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

. In the report, Morgan Stanley noted, “Taco Bell mgmt appeared confident that its recent launch of breakfast - the most significant initiative in recent history - is additive to overall sales and trending well above break even levels. The product pipeline for ‘14 appears robust despite the soft start to the year, and mobile is on track to launch later in ‘14, though only in limited test today. At 21% of total YUM profits, solid performance at TB is important to reaching ‘14 goals.” Yum! Brands closed on Thursday at $74.87.