Stifel analyst Chris O’Cull lowered the firm’s price target on Yum! Brands (YUM) to $130 from $135 and keeps a Hold rating on the shares. The firm’s analysis of mobile location data indicates that media attention before launching new national value offers at fast food chains, exemplified in McDonald’s (MCD) $5 Meal Deal, may have positively impacted transaction performance, including among lower-income consumers. However, a key question on the upcoming earnings calls will be whether the transaction improvement has sufficiently generated more profit dollars for franchisees, the analyst tells investors in a note about the Americas Restaurants group.
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