Jefferies Cuts Numbers on Yum! Brands (YUM) Following China Sales Warning

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Jefferies cut its price target on Hold-rated Yum! Brands (NYSE: YUM) from $70 to $68 following news that the lowered 4Q China SSS to -6% from -4%.

"Think momentum will be tough to regain, esp. with 1H13 already facing difficult compares, and expect NT multiple contraction," the analyst comments.

The firm lowered FY12/FY13 EPS to $3.24/3.57 from $3.26/3.63. Q412 EPS was cut from $0.84 to $0.83.

For an analyst ratings summary and ratings history on Yum! Brands click here. For more ratings news on Yum! Brands click here.

Shares of Yum! Brands closed at $67.89 yesterday, with a 52 week range of $59.32-$74.75.

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