Yum! Brands price target raised to $155 from $145 at Guggenheim

Guggenheim analyst Gregory Francfort raised the firm’s price target on Yum! Brands to $155 from $145 and keeps a Buy rating on the shares after having hosted investor meetings with Yum Brands CFO Chris Turner. While the firm made no change to its FY24 EPS estimate coming out of the meeting, it is expanding its target multiple as it expands valuation across coverage given the run in the group, particularly at businesses that have an outlook for “steady and compelling unit development,” the analyst tells investors.