Yum! Brands price target raised to $129 from $124 at Loop Capital

Loop Capital analyst Alton Stump raised the firm’s price target on Yum! Brands to $129 from $124 but keeps a Hold rating on the shares. The analyst notes the company’s Q4 comps miss while also reducing the firm’s FY24 EPS view by 9c to $5.72. Loop adds that it remains positive on KFC and Taco Bell segments, which should continue to grow comparable sales in a low- to mid-single-digit range and mid single-digits, respectively, in the long-term, but also believes that these positive attributes are accurately reflected in the company’s current valuation.