Yum China price target lowered to $51.30 from $66.80 at HSBC

HSBC lowered the firm’s price target on Yum China to $51.30 from $66.80 and keeps a Buy rating on the shares. The analyst says 2024 will still be a challenging year for the company in terms of competition. However, shareholder returns should support the stock and investors will be rewarded when competition eases, the analyst tells investors in a research note.