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Yum! Brands price target raised to $165 from $151 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Yum! Brands (YUM) to $165 from $151 and keeps an Equal Weight rating on the shares. Calendar Q3 demand “wasn’t bad at a high level,” but September slowed visibly, fast casual was weak, and much of quick service remained soft, the analyst tells investors in a Q3 preview for the restaurants and food distributors.

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