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Fly News Breaks for July 15, 2015
YUM
Jul 15, 2015 | 08:09 EDT
Bernstein says that Yum's two year China comp sales improved to +5% from -3% in Q2. According to the firm, that improvement implies that the company's China comps will accelerate sharply in 2H15. Bernstein believes that Taco Bell is firing on all cylinders, while the company's margin performance was strong. However, the firm thinks that the true test of the China business will come in 2H15, and it continues to believe that Yum should pursue strategies to unlock value. It keeps a $109 price target and Outperform rating on the shares.
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