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Fly News Breaks for October 7, 2015
YUM
Oct 7, 2015 | 07:56 EDT
Oppenheimer believes that, in the wake of Yum's negative preannouncement, the stock reflects a "doomsday scenario" for the company's China business and assigns very little value to that business. The firm says that the decline is "well overdone." The firm says that a spinoff of the company's China business could greatly increase shareholder value. It cut its price target on the name to $94 from $105 but keeps an Outperform rating on the shares.
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