Bernstein analyst Danilo Gargiulo downgraded Yum! Brands (YUM) to Market Perform from Outperform with a price target of $135, down from $140. Yum may witness pressures in reaching its long-term growth algorithm in 2025, resulting in a range-bound stock, the analyst tells investors in a research note. Tee firm sees international uncertainties impacting the company’s unit growth, and says it has reduced spending levers to deploy.
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