Yum! Brands (YUM) PT Raised to $116 at Argus

Argus analyst John Staszak raised the price target on Yum! Brands (NYSE: YUM) to $116.00 (from $104.00) while maintaining a Buy rating.

Analyst comments: "Reflecting the benefits of accelerated refranchising and the company’s better-than-expected earnings in five of the past six quarters, we are raising our 2019 estimate to $4.15 from $4.10. For 2020, we are raising our estimate to $4.64 from $4.60 per share. Both estimates are above consensus."

Shares of YUM trade down -1.15%, while SPY trades up +0.18% in afternoon trading.

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