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YUMC

Yum China

$34.22

-0.22 (-0.64%)

, KKR

KKR

$25.20

-0.53 (-2.06%)

06:06
08/14/18
08/14
06:06
08/14/18
06:06

China Investment Corp part of Yum China bidding consortium, Bloomberg reports

China's sovereign wealth fund, China Investment Corp., is part of the consortium bidding to take Yum China (YUMC) private, people with knowledge of the matter tell Bloomberg. CIC and DCP Capital, an investment fund run by former KKR (KKR) executives, are considering a buyout of Yum China, which runs KFC and Pizza Hut outlets, along with Hillhouse Capital. Yum China, which has a market value of $13.1B in New York, was spun off from Yum! Brands (YUM) in 2016. Reference Link

YUMC

Yum China

$34.22

-0.22 (-0.64%)

KKR

KKR

$25.20

-0.53 (-2.06%)

YUM

Yum! Brands

$82.38

-0.61 (-0.74%)

  • 10

    Sep

YUMC Yum China
$34.22

-0.22 (-0.64%)

08/02/18
OPCO
08/02/18
NO CHANGE
Target $40
OPCO
Outperform
Yum China price target lowered to $40 from $45 at Oppenheimer
Oppenheimer analyst Brian Bittner lowered his price target for Yum China to $40 from $45 as he believes the near-term setup makes it difficult to aggressively pitch it for now. The analyst reiterates an Outperform rating on the shares.
08/02/18
MACQ
08/02/18
DOWNGRADE
MACQ
Neutral
Yum China downgraded to Neutral from Outperform at Macquarie
07/20/18
07/20/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. BOFA CUTS YUM CHINA TO UNDERPERFORM: BofA Merrill Lynch analyst Chen Luo downgraded Yum China (YUMC) to Underperform from Neutral and cut its price target to $34 from $44.30. Luo said he expects Yum China to continue to underperform given a likely peak in KFC trends amid China's weakening macro environment, a likely prolonged turnaround at Pizza Hut combined with heavy costs, a slowdown in Chinese consumer consumption, and RMB depreciation. Yum China is down 4.8% in late morning trading. CREDIT SUISSE CUTS FIVE BELOW TO NEUTRAL: Credit Suisse analyst Judah Frommer downgraded Five Below (FIVE) to Neutral from Outperform, telling investors that he is moving to the sidelines as he sees risk/reward balanced at current levels given the stock's material outperformance and back-half comp acceleration that he believes is priced into shares. Frommer keeps his $110 price target and says Five Below remains one of the most differentiated concepts in retail. Five Below is down 4.4% in late morning trading. BAIRD MORE CAUTIOUS ON DRUG SUPPLY CHAIN: Baird analyst Eric Coldwell downgraded Express Scripts (ESRX), AmerisourceBergen (ABC), and McKesson (MCK), all to Neutral from Outperform, citing the heavy political attack in recent weeks against pharmacy benefit managers and members of the drug supply chain. Among them, he said AmerisourceBergen remains his preferred name, but he cannot justify putting new money to work in these names in the current environment. SUNTRUST STARTS VIKING WITH A BUY: SunTrust analyst Edward Nash initiated Viking Therapeutics (VKTX) with a Buy rating and a price target of $14, saying its VK2809 drug for lipid disorders "has the potential to become a promising treatment by addressing multiple metabolic issues" associated with the non-alcoholic steatohepatitis disease, or NASH. Viking is up 8.3% in late morning trading. JPMORGAN SAYS BUY GM, SELL TESLA INTO EARNINGS: JPMorgan analyst Ryan Brinkman forecast lower than consensus Q2 earnings for Ford (F) and higher than consensus earnings for General Motors (GM). The analyst is also concerned about the potential for a "large loss and accompanying large cash outflow" at Tesla (TSLA) in Q2 to "make the bridge" to GAAP profitability and positive cash generation in the second half of the year. Brinkman maintained Overweight ratings on GM and Ford, with a preference for GM shares. He also kept his cautious Underweight rating on Tesla shares, seeing 44% downside to his $180 December 2018 price target.
07/20/18
07/20/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Philip Morris (PM) downgraded to Neutral from Overweight at JPMorgan and to Market Perform from Outperform at Cowen. 2. Skechers (SKX) downgraded to Neutral from Positive at Susquehanna and to Market Perform from Outperform at Wells Fargo. 3. McKesson (MCK), AmerisourceBergen (ABC), and Express Scripts (ESRX) downgraded to Neutral from Outperform at Baird. 4. Five Below (FIVE) downgraded to Neutral from Outperform at Credit Suisse with analyst Judah Frommer saying he is moving to the sidelines as he sees risk/reward balanced at current levels given the stock's material outperformance and back-half comp acceleration that he believes is priced into shares. 5. Yum China (YUMC) downgraded to Underperform from Neutral at BofA/Merrill with analyst Chen Luo saying he expects Yum China to continue to underperform given a likely peak in KFC trends amid China's weakening macro environment, a likely prolonged turnaround at Pizza Hut combined with heavy costs, a slowdown in Chinese consumer consumption, and RMB depreciation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
KKR KKR
$25.20

-0.53 (-2.06%)

07/10/18
JMPS
07/10/18
NO CHANGE
Target $33
JMPS
Outperform
KKR price target raised to $33 at JMP Securities after 'impressive' analyst day
JMP Securities analyst Devin Ryan said KKR's investor day was "impressive" and made a compelling pitch for existing and new investors. The recurring themes were that growth opportunities abound, management views the business as at an "inflection" with even more excitement about the future, and the company is focused on simplifying its story and providing more transparency. Following the event, he increased his price target on KKR shares to $33 from $27 and maintains his Outperform rating on the stock.
07/10/18
WELS
07/10/18
NO CHANGE
Target $30
WELS
Outperform
KKR price target raised to $30 from $25 at Wells Fargo
Wells Fargo analyst Christopher Harris raised his price target for KKR to $30 from $25 after attending the company's Investor Day and as he believes the outlook appears to remain quite promising. The analyst reiterates an Outperform rating on the shares.
06/27/18
RHCO
06/27/18
NO CHANGE
Target $30
RHCO
Buy
Web.com price target raised to $30 from $24 at SunTrust
SunTrust analyst Naved Khan raised his price target on Web.com to $30, maintaining his view that the company's agreed acquisition by Siris Capital at $25 per share could generate interest from other potential buyers. Among the potential acquirers, the analyst lists Silver Lake, KKR (KKR), Vector Capital, and GoDaddy (GDDY).
07/10/18
SBSH
07/10/18
NO CHANGE
Target $31
SBSH
Buy
KKR price target raised to $31 from $28 at Citi
Citi analyst William Katz raised his price target for KKR to $31 and keeps a Buy rating on the shares following the company's investor day. The analyst believes KKR's conversion to a corporation has created a "favorable feedback loop for the sector."
YUM Yum! Brands
$82.38

-0.61 (-0.74%)

05/30/18
CLVD
05/30/18
NO CHANGE
CLVD
Yum! Brands Q2 comps trends 'sluggish,' says Cleveland Research
06/27/18
06/27/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Marvell (MRVL) upgraded to Buy from Hold at Deutsche Bank with analyst Ross Seymore stating that he sees the upside greatly favoring the downside potential in the stock following the pullback in the shares. 2. WellCare (WCG) upgraded to Overweight from Neutral at JPMorgan with analyst Gary Taylor saying that he thinks WellCare still has the opportunity to drive long-term investor value through organic growth, acquisitions and operational execution driving higher margins. 3. Yum! Brands (YUM) upgraded to Buy from Neutral at BTIG with analyst Peter Saleh citing the recent weakness in the stock price, more favorable risk-reward outlook, and the expected benefits from its $200M investment in GrubHub (GRUB). 4. Regeneron (REGN) upgraded to Outperform from Perform at Oppenheimer with analyst Hartaj Singh sayinghe believes the company is now on the cusp of strong 2019/20 sales growth with increased Eylea penetration in DME in 2018/19, the NPDR indication expansion in late 2019, approval/launch of dupilumab in asthma in late 2018 and the approval/launch of cemiplimab in advanced CSCC in Q3. 5. Timken (TKR) upgraded to Overweight from Sector Weight at KeyBanc with analyst Steve Barger's historical cycle analysis suggesting Timken is well positioned to benefit from continued improvement in cycle dynamics, which should result in better organic volumes and improving price realization in the near-term, leading to solid operating leverage. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage,click here.
06/27/18
BTIG
06/27/18
UPGRADE
Target $92
BTIG
Buy
Yum! Brands upgraded to Buy at BTIG on valuation and GrubHub partnership
As reported earlier, BTIG analyst Peter Saleh upgraded Yum! Brands (YUM) to Buy from Neutral with a price target of $92. The analyst cites the recent weakness in the stock price, more favorable risk-reward outlook, and the expected benefits from its $200M investment in GrubHub (GRUB). Saleh says the investment will provide Yum! Brands with customer-level data not available to other restaurants, which will enable it to make better informed decisions for all 3 of its concepts. The analyst is also raising his FY19 EPS target to $3.85 from $3.77.
06/27/18
BTIG
06/27/18
UPGRADE
BTIG
Buy
Yum! Brands upgraded to Buy from Neutral at BTIG

TODAY'S FREE FLY STORIES

PKD

Parker Drilling

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$57.52

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EFA

iShares MSCI EAFE Index Fund

$61.52

1.04 (1.72%)

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AVYA

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$17.70

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ZAYO

Zayo Group

$25.42

0.185 (0.73%)

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TME

Tencent Music

$0.00

(0.00%)

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Syndicate
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MS

Morgan Stanley

$41.30

0.68 (1.67%)

, BAC

Bank of America

$24.67

0.09 (0.37%)

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On The Fly
KBW, Atlantic turn more bearish on big banks amid ‘subdued’ environment »

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MS

Morgan Stanley

$41.30

0.68 (1.67%)

BAC

Bank of America

$24.67

0.09 (0.37%)

GS

Goldman Sachs

$178.50

1.76 (1.00%)

KEY

KeyCorp

$16.07

0.145 (0.91%)

CMA

Comerica

$73.10

1.74 (2.44%)

CFG

Citizens Financial

$32.20

0.52 (1.64%)

MTB

M&T Bank

$154.49

0.94 (0.61%)

STI

SunTrust

$54.56

0.08 (0.15%)

ZION

Zions Bancorp

$44.03

0.6 (1.38%)

03/08/13
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AVEO

Aveo Pharmaceuticals

$2.01

-0.02 (-0.99%)

, AZN

AstraZeneca

$39.20

0.57 (1.48%)

10:45
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AVEO

Aveo Pharmaceuticals

$2.01

-0.02 (-0.99%)

AZN

AstraZeneca

$39.20

0.57 (1.48%)

03/08/13
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APD

Air Products

$156.93

0.975 (0.63%)

10:42
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12/12
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SBUX

Starbucks

$66.46

0.56 (0.85%)

10:40
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Aggressive call buying in Starbucks weekly options ahead of a company event »

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MNK

Mallinckrodt

$21.11

0.16 (0.76%)

, ENDP

Endo

$11.45

0.23 (2.05%)

10:38
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Mallinckrodt rises despite FDA failing to approve opioid painkiller »

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MNK

Mallinckrodt

$21.11

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ENDP

Endo

$11.45

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JNJ

Johnson & Johnson

$148.10

1.58 (1.08%)

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FOMX

Foamix

$4.08

0.27 (7.09%)

, JAZZ

Jazz Pharmaceuticals

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2.24 (1.59%)

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GWPH

GW Pharmaceuticals

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SIX

Six Flags

$60.80

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IQ

iQIYI

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ICPT

Intercept

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VKTX

Viking Therapeutics

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MDGL

Madrigal Pharmaceuticals

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GLMD

Galmed

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EBAY

eBay

$29.44

0.39 (1.34%)

, BAC

Bank of America

$24.71

0.13 (0.53%)

10:37
12/12/18
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On The Fly: Top five analyst downgrades »

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EBAY

eBay

$29.44

0.39 (1.34%)

BAC

Bank of America

$24.71

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MS

Morgan Stanley

$41.28

0.66 (1.62%)

MOS

Mosaic

$31.62

-1.38 (-4.18%)

VZ

Verizon

$57.83

-1.02 (-1.73%)

FLR

Fluor

$34.28

0.46 (1.36%)

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  • 12

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  • 03

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SQM

SQM

$44.00

0.85 (1.97%)

, AEG

Aegon

$5.01

0.175 (3.62%)

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SQM

SQM

$44.00

0.85 (1.97%)

AEG

Aegon

$5.01

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LULU

Lululemon

$120.74

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CORT

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$18.29

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O

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$66.41

0.11 (0.17%)

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  • 14

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EBIX

Ebix

$45.77

0.89 (1.98%)

10:37
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WTRH

Waitr Holdings

$11.67

0.38 (3.37%)

10:36
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Recommendations
Waitr Holdings analyst commentary  »

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  • 12

    Dec

EBIX

Ebix

$45.77

0.89 (1.98%)

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DB

Deutsche Bank

$8.85

0.51 (6.12%)

, CRZBY

Commerzbank

$0.00

(0.00%)

10:35
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12/12
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10:35
Periodicals
Germany intensifying efforts to aid Deutsche-Commerzbank merger, Bloomberg says »

High-level discussions in…

DB

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$8.85

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CRZBY

Commerzbank

$0.00

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10:35
12/12/18
12/12
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12/12/18
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General news
Effective fed funds rate dipped back to 2.19% on Tuesday »

Effective fed funds rate…

WTRH

Waitr Holdings

$11.50

0.21 (1.86%)

10:33
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12/12
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Hot Stocks
Breaking Hot Stocks news story on Waitr Holdings »

Waitr Holdings up 4.4%…

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  • 12

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MRK

Merck

$78.11

0.99 (1.28%)

10:33
12/12/18
12/12
10:33
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10:33
Hot Stocks
Merck, Instituto Butantan collaborate to develop vaccines for dengue infections »

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TME

Tencent Music

$0.00

(0.00%)

10:31
12/12/18
12/12
10:31
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10:31
Syndicate
Breaking Syndicate news story on Tencent Music »

Tencent Music indicated…

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Citigroup
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  • 12

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10:31
12/12/18
12/12
10:31
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10:31
General news
Crude inventories for week of December 7 »

Crude oil inventories…

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