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Fly News Breaks for August 17, 2018
YUMC
Aug 17, 2018 | 07:09 EDT
Oppenheimer analyst Brian Bittner downgraded Yum China to Perform from Outperform, telling investors in a research note that the need for improving SSS could take several quarters as KFC headwinds do not appear transitory. Bittner contends that recent reports of takeout speculation in China present an interesting angle, but at a 23x forward P/E against elevated near-term operating risks.
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