Bank of America Lowers Price Target of Yum! Brands; Maintains “Buy” Rating (YUM)
Bank of America analysts lowered the price target of quick-service restaurant operator Yum! Brands, Inc. (YUM) on Friday due to a poor outlook of sales in China.
Bank of America now sees shares of YUM reaching $76, a +13.5% upside from Thursday’s closing price of $66.92. The analysts maintain a “Buy” rating for the operator of KFC, Pizza Hut, and Taco Bell.
Yum! shares were up 10 cents, or +0.15%, in premarket trading on Friday.
The Bottom Line
Shares of Yum Brands (YUM) have a 2.00% dividend yield, based on last night’s closing stock price of $66.92. The stock has technical support in the $62-$63 price area. If the shares can firm up, we see overhead resistance around the $70-$72 price levels.
Yum! Brands, Inc. (YUM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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