BofA lowered the firm’s price target on Yum! Brands (YUM) to $156 from $163 and keeps a Neutral rating on the shares. The firm lowered its Q4 and FY25 EPS estimates as it incorporates softer results at Pizza Hut and continued pressure on Taco Bell cost of goods from elevated beef inflation that offsets better top line results, the analyst tells investors. The firm sees positive EPS revisions and multiple expansion as “likely limited,” the analyst added.
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