Yum! Brands price target raised to $154 from $150 at Baird

Baird raised the firm’s price target on Yum! Brands to $154 from $150 and keeps an Outperform rating on the shares. The firm said the Q2 report was reassuring in the sense that core profitability exceeded estimates despite a global comps shortfall versus consensus, and the company reiterated its healthy 2024 profit guidance while noting confidence that comps can improve in Q3/Q4.