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Fly News Breaks for April 30, 2019
YUMC
Apr 30, 2019 | 06:21 EDT
As previously reported, BofA/Merrill upgraded Yum China to Buy from Neutral and raised its price target to $50.80 following the Q1 beat on same-store-sales growth, or SSSG, and margins. Analyst Chen Luo said easy SSSG comps and the consumer recovery in China support Yum visibility, while the company's innovation, digital, value, and delivery support growth. Luo is is encouraged by positive trends at Pizza Hut and said Yum would benefit from an improving outlook in China and a potential trade truce with the US.
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