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Fly News Breaks for August 13, 2015
YUM
Aug 13, 2015 | 08:05 EDT
After Yum's stock sank about 10% on China fears, Oppenheimer says that the company's businesses outside of China are worth about $67 per share, making the company's China business a cheap option. The firm still expects the company's China business to rebound, and it thinks the company will probably carry out a spinoff, unlocking significant equity value. It keeps a $105 price target and Outperform rating on the shares.
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