Cowen Starts Yum! Brands (YUM) at Market Perform

Cowen initiates coverage on Yum! Brands (NYSE: YUM) with a Market Perform rating and a price target of $81.00.

Analyst Andrew Charles commented, "In our view the long-term China story has deteriorated from great to good, based on increased competition and a more difficult government environment. While we expect a significant bounceback for the China segment once the supplier issue is lapped in July, the path to reclaim peak AUV's will likely take until 2020 at the earliest."

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 $80.72 yesterday.

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