Argus Upgrades Yum! Brands (YUM) to Buy

(Updated - November 23, 2022 7:33 AM EST)

Argus analyst John Staszak upgraded Yum! Brands (NYSE: YUM) from Hold to Buy with a price target of $142.00.

The analyst comments "We are raising our rating on Yum! Brands Inc. (NYSE: YUM) to BUY from HOLD and setting a target price of $142. We expect consumers to opt for the company's relatively inexpensive menu items and look for it to grow at a solid pace. We also expect YUM! Brands to benefit from an eventual reopening of the Chinese economy and an acceleration in restaurant openings. As for valuation, the shares are trading at 24.0-times our revised 2023 estimate, versus the shares' five-year average of 26.2-times forward earnings. Our long-term rating is BUY, as we expect the company to benefit over time from growth in orders placed through GrubHub, the exclusive delivery service for KFC and Taco Bell."

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 $124.94 yesterday.

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