UPDATE: Yum! Brands (YUM) PT Raised to $142 at Wells Fargo Ahead of KFC Analyst Day

May 18, 2021 6:47 AM EDT
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Price: $127.94 -0.43%

Rating Summary:
    14 Buy, 22 Hold, 3 Sell

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Today's Overall Ratings:
    Up: 8 | Down: 8 | New: 9
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(Updated - May 18, 2021 8:30 AM EDT)

Wells Fargo analyst Jon Tower raised the price target on Yum! Brands (NYSE: YUM) to $142.00 (from $141.00) on the belief that investors will come away from the KFC investor day on May 25th with greater confidence KFC's (and all brands under the YUM umbrella) ability to leverage scale into competitive advantage and ultimately top-line growth.

The analyst reiterated an Overweight rating, stating "We do not expect the company to alter its previous long-term KFC store opportunity of 60k stores (vs. 25.3k today, Exhibit 13), but we do believe management will offer a firmer outline of the unit growth trajectory over the next several years and instill confidence that the drivers in-place at existing stores will lead to a fast global SSS recovery, which we believe can drive the next leg-up in shares".

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