UBS Maintains a 'Buy' on Yum! Brands (YUM); A Case For Higher Valuation

UBS maintains a 'Buy' on Yum! Brands (NYSE: YUM) price target raised from $63 to $76.

UBS analyst says, "Ahead of 4Q results, we are raising our 12 month price target from $63 to $76 and our 2012 and 2013 EPS estimates from $3.25 and $3.72 to $3.32 (+16% YOY, cons. $3.23) and $3.80 (+14% YOY, cons. $3.70). Our new estimates incorporate our view that sales momentum will continue in China resulting in another year of profit growth >20%. We also believe that the US business has stabilized during 4Q and will contribute incremental profit growth to the overall business in 2012."

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 $63.33 yesterday.

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