Yum China price target lowered to $68 from $76 at Morgan Stanley

Morgan Stanley analyst Lillian Lou lowered the firm’s price target on Yum China to $68 from $76 and keeps an Overweight rating on the shares following the company’s Q3 report. For Q4, management is focusing on driving traffic by further increasing value products and the Q4 margin outlook remains “challenging,” says the analyst, who expects more stability in the long term on that front.