Yum! Brands price target lowered to $140 from $143 at Loop Capital

Loop Capital lowered the firm’s price target on Yum! Brands (YUM) to $140 from $143 and keeps a Hold rating on the shares. The company’s Q3 results were “mixed”, with comparable sales down 4% for KFC – well below Loop’s forecast for 2% growth – down 1% for Pizza Hut, and up 4% for Taco Bell, the analyst tells investors in a research note. The firm adds that while it believes KFC and Taco Bell segments should continue to grow comparable sales in a low- to mid-single-digit range and mid single-digits, respectively, in the long-term, it also sees these positive attributes as accurately reflected in the company’s current valuation.