| 2016-10-19 06:43:32|
YUM 06:43 10/19 10/19/16
Yum! Brands upgraded to Outperform on 'New Yum' outlook at Credit Suisse
As previously reported, Credit Suisse analyst Jason West upgraded Yum! Brands to Outperform from Neutral and raised its price target to $96 from $90 based on a bullish outlook for the "New Yum" non-China, which will begin to trade on a standalone basis on November 1. The analyst sees a base case stock price for the New Yum in the $80+ range by mid-to-late 2018 led by a multiyear earnings growth story driven by accelerating new store growth and tremendous excess capital.