Gordon Haskett lowered the firm’s price target on Yum! Brands (YUM) to $134 from $148 and keeps a Hold rating on the shares, arguing that the company’s Q3 release and call “continued to paint a very challenging” picture of the global environment for the company’s collection of quick service concepts, with Taco Bell the exception. Shares have languished in 2024 year-to-date, notes the firm, which sees “more of the same in 1H25” with the KFC and Pizza Hut segments “contending with consumer, geopolitical and value-focused competitive headwinds in many markets globally.”
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