Yum Brands to separate China unit amid activist pressure

RBC Capital Raises Price Target to Account for Yum! Brands (YUM) New Outlook

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... More

S&P Places Yum! Brands (YUM) on CreditWatch Negative Following Separation Plans

Standard & Poor's Ratings Services placed its ratings, including the 'BBB' corporate credit rating, on Yum! Brands Inc. (NYSE: YUM) on CreditWatch with negative implications.

The CreditWatch placements follow Yums announcement that it plans to separate its China division into an independent publicly... More

Yum! Brands' (YUM) Sum-of-the-Parts Value is $74/Share, Says Deutsche Bank

Deutsche Bank maintained a Hold rating on Yum! Brands (NYSE: YUM) with a price target of $76. Comments follow news Yum! plans to separate into two publicly traded companies. Analyst Karen Short thinks its sum-of-the-parts value is $74 per share. Both units were assigned a 12x EV/EBITDA multiple.

"Our sum-of-the-parts ("SoTP") values both YUM China and YUM ex. China at 12x for each division and this gets us to an SoTP valuation of $74/share. We assign no debt to China, and we add an incremental $9b in debt to the remaining business... More

Yum! Brands (YUM) China Separation Seen as 'Positive Event' - RBC Capital

RBC Capital analyst David Palmer provided some initial thoughts on Yum! Brands (NYSE: YUM) after the company announced plans to split itself into two separate and publicly-traded entities: 1) Yum China, and 2) Yum Brands. While in-line with expectations, the analyst views the move as... More