Yum! Brands’s Outperform Rating Reaffirmed at Credit Suisse (YUM)
Credit Suisse reissued their outperform rating on shares of Yum! Brands (NYSE: YUM) in a report released on Wednesday. Credit Suisse currently has a $70.00 target price on the stock, up from their previous target price of $3.00.
“Adjusted for the New Year’s calendar shift, comps improved from (~25%) in Jan to (~15%) in February. While still negative, we find two things encouraging: (1) an apparent bottom in January, and (2) a material improvement despite YUM not launching a marketing campaign to respond to the food safety incident until near the end of the month. Both of these suggest that things do not need to get worse before they get better and remove some of the downside risk.,” the firm’s analyst commented.
A number of other analysts have also recently weighed in on YUM. Analysts at Susquehanna raised their price target on shares of Yum! Brands from $62.00 to $67.00 in a research note to investors on Tuesday. Separately, analysts at Goldman Sachs raised their price target on shares of Yum! Brands to $65.00 in a research note to investors on Tuesday. Finally, analysts at Deutsche Bank raised their price target on shares of Yum! Brands from $62.00 to $68.00 in a research note to investors on Tuesday. They now have a hold rating on the stock.
Eleven investment analysts have rated the stock with a buy rating, two have assigned an overweight rating, thirteen have assigned a hold rating, and one has given a sell rating to the stock. The company presently has an average rating of overweight and a consensus price target of $70.59.
Shares of Yum! Brands (NYSE: YUM) traded up 0.06% during mid-day trading on Wednesday, hitting $69.89. Yum! Brands has a one year low of $59.68 and a one year high of $74.75. The stock’s 50-day moving average is currently $65.41. The company has a market cap of $31.501 billion and a P/E ratio of 20.67.
Yum! Brands, Inc. (YUM) is a quick service restaurant company based on number of system units, with approximately 37,000 units in more than 120 countries and territories.
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