Yum! Brands price target lowered to $133 from $136 at BMO Capital

BMO Capital lowered the firm’s price target on Yum! Brands to $133 from $136 and keeps a Market Perform rating on the shares. The company’s broadly softer comps and higher tax rate more than offset stronger restaurant margins and lower G&A, driving a Q4 earnings miss, the analyst tells investors in a research note. BMO adds however that it holds a favorable long-term view of Yum!’s growth prospects and expects combination of above algo unit growth and G&A management to support growth in 2024.