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Fly News Breaks for April 17, 2019
YUMC
Apr 17, 2019 | 08:09 EDT
As previously reported, Goldman Sachs analyst Michelle Cheng upgraded Yum China to Buy from Neutral and added the stock to the firm's Conviction List, citing her belief that restaurant margin trends will pick up and that that stock's valuation looks attractive compared to Haidilao and global peers. She also sees potential earnings upside in the mid to long term from increasing coffee sales, Pizza Hut's turnaround and KFC's long-term store expansion potential in China. Cheng raised her price target on Yum China shares to $54 from $43.
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