Nomura Securities Raises Price Target on Yum! Brands (YUM) Following 2Q Release

Nomura Securities reiterated a Buy rating on Yum! Brands (NYSE: YUM), and raised the price target to $96.00 (from $95.00), following the company's 2Q earnings report. YUM reported EPS of $0.75, $0.01 above the $0.74 consensus. Management also commented that "we remain on track to finalize the separation of our China business with a targeted completion date around October 31, 2016."

Analyst Mark Kalinowski commented, "After Wednesday's market close, YUM! Brands (YUM US; Buy) -- the parent company of KFC, Pizza Hut, and Taco Bell -- reported adjusted Q2 EPS of $0.75, matching our $0.75 forecast, and coming in $0.01 above the $0.74 Consensus Metrix figure. The company raised its full-year 2016 "core operating profit growth" target to "at least 14%" (from "at least 12%t"), news being welcomed by the Street -- the stock is up by nearly 4% in aftermarket trading as of this writing. We reiterate our Buy rating on YUM, which remains our top large-cap restaurant stock pick."

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 $85.74 yesterday.

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