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Yum! (YUM) 'Blows Through' to $45 -Cramer
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Making his return to CNBC this afternoon, Jim Cramer, on Stop Trading!, was bullish on Yum! Brands (NYSE: YUM). Cramer said the stock is Buy, saying it will "blow through" to $45. Trading at just over $39 today, Cramer's price target on Yum! represents a potential return of 15%.
Cramer called Yum! a China play due to huge growth potential for its KFC brand, which is gaining popularity overseas. While Yum!'s CEO, David Novak, is focusing on rebuilding Taco Bell in the U.S., Cramer said Novak "understands where the growth is" as he continues to look at the huge potential in China.
When Street Signs host Erin Burnett asked Cramer about the effect of rising gas prices on KFC's sales, Cramer said the company may see an impact in the U.S., however, he believes that people in China will not stop eating KFC due to high gas prices because gas prices are not rising there.
Yum! Brands, Inc. operates as a quick service restaurant company.
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