RBC Capital reiterated a Top Pick rating on Yum! Brands (NYSE: YUM), and raised the price target to $87.00 (from $80.00), to account for the company's new outlook.

Analyst David Palmer commented, "We are raising our price target to reflect the value creation likely to occur from the spin-off of Yum! China. While Yum! China continues to struggle, we believe upside from the spin more than offsets a slower than expected pace of recovery."

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 $73.03 yesterday.

Analyst Comments Analyst EPS Change Analyst PT Change

Consumers Lovin' McDonald's (MCD) Breakfast Less as Competitors Enter Fray, Data ShowsOctober 21, 2015 6:49 AM Market Wrap: Splitsville for Yum! Brands; Tesla's 'Recommended' Rating Revoked; AmSurg Moves on Big AcquisitionOctober 20, 2015 5:31 PM S&P Places Yum! Brands (YUM) on CreditWatch Negative Following Separation PlansOctober 20, 2015 3:40 PM Yum! Brands' (YUM) Sum-of-the-Parts Value is $74/Share, Says Deutsche Bank October 20, 2015 10:05 AM Pre-Open Stock Movers 10/20: (ERII) (TMH) (SNDK) Higher; (RMBS) (HOG) (IBM) Lower (more...)October 20, 2015 9:28 AM Yum! Brands (YUM) China Separation Seen as 'Positive Event' - RBC CapitalOctober 20, 2015 8:19 AM Yum Brands to separate China unit amid activist pressureOctober 20, 2015 7:10 AM Yum! Brands (YUM) to Separate Into Two Publicly Traded CompaniesOctober 20, 2015 7:02 AM Yum! Brands Announces Intention to Separate into Two Publicly Traded CompaniesOctober 20, 2015 7:00 AM