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Fly News Breaks for August 13, 2015
YUM
Aug 13, 2015 | 08:41 EDT
Bernstein says that the 8% sell-off in Yum's stock since China began devaluing its currency implies that the yuan will lose 20% of its value. According to Bernstein, that is more of a drop than any worst case scenario that has been articulated. Bernstein keeps a $109 price target and Outperform rating on the shares.
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