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Fly News Breaks for October 31, 2019
GRUB, YUM
Oct 31, 2019 | 08:00 EDT
Cowen analyst Andrew Charles said the Yum Brands (YUM) sell-off from the challenges at its Pizza Hut division seems to be overdone. The analyst said some of the weakness could be due to its 3.0% ownership in GrubHub (GRUB) and the stock's challenging performance. He said the Yum quarter was helped by its diversified model showcased by its Taco Bell comp strength and upside to KFC store growth. Charles maintained his Outperform rating and lowered his price target to $117 from $129 on Yum Brands shares.
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