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Fly News Breaks for April 21, 2016
YUM
Apr 21, 2016 | 07:48 EDT
Oppenheimer analyst Brian Bittner raised his price target for Yum! Brands to $93 from $88 based on "modestly higher" profits and "healthy" peer multiples. The company's fundamentals are healthier than expected a few months ago, the analyst tells investors in a research note. Bittner says the accretive leveraged recap and China separation are drawing closer, with both remaining under-appreciated. The analyst reiterates an Outperform rating on the shares.
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