Yum! Brands price target raised to $144 from $138 at TD Cowen

TD Cowen raised the firm’s price target on Yum! Brands to $144 from $138 and keeps an Outperform rating on the shares. The company gave guidance for 8%-plus core operating growth in 2024 despite pronounced sales headwinds in the Middle East and select Asian markets, though those are expected to improve as 2024 progresses, says the analyst, who sees “greater likelihood of alpha” in the second half than in the first half of 2024.