Yum China price target raised to $57.50 from $49 at BofA

BofA analyst Chen Luo raised the firm’s price target on Yum China (YUMC) to $57.50 from $49 and keeps a Buy rating on the shares. After Q3 beat on margins, the firm lifts its “above-consensus” 2024 and 2025 EPS estimates by 2% and 3%, respectively, the analyst tells investors. The Q3 results reaffirm BofA’s view that Yum China is “one of the few China consumer stocks with no EPS downside, but rather upside,” the analyst added.