Jefferies analyst Anne Ling raised the price target on Yum China Holdings (NYSE: YUMC) to $64.50 (from $62.80) while maintaining a Buy rating.

The analyst comments "1Q26 results were in line with JEF/mkt est.s, with better-than-expected opm from PH. For 2Q26, mgmt expects sequential improvement in SSS. Rider cost pressure is expected to ease slightly from 1Q26. Mgmt reiterated its 2026 target to achieve 0-2% sss, M-HSD system sales growth, HSD OP growth, and DD EPS growth with slight improvement in OPM. We raise our PT to US$64.5/HK$505.5m, up 3%, in line with earnings revision."