Loop Capital analyst Alton Stump keeps a Hold rating and $135 price target on Yum! Brands while stating that the firm’s Taco Bell U.S. franchisee checks indicate that same-store sales growth decelerated during late Q2-early Q3. U.S. Taco Bell franchisees’ same-store sales slowed from about 6% growth during the first half of Q2 to about 4% growth, data shows, implying that comps were up about 5% in full Q2 – below Loop’s prior estimate for 6% growth but above consensus at up 4%, the analyst tells investors in a research note.
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