Market News

YUM Shutters UK Stores after Cyber Attack

Shares of quick service restaurant operator YUM! Brands (NYSE:YUM) are trending lower today after the company witnessed a cyber attack targeting its IT infrastructure in the U.K.

Consequently, a large number of its outlets have been shuttered in the country. YUM has already undertaken counteractions. This includes some of its systems being offline. The attack has impacted not more than 300 of its outlets in the U.K., according to the company.

While data from the company’s network has been taken, there is no sign of customer databases being breached yet.

Finally, the company expects to completely restore the impacted systems over the coming days.

Shares of the company have remained largely unchanged over the past year and the Street remains cautiously optimistic about the stock with a Moderate Buy consensus rating alongside an average price target of $141.71. This points to a 10.09% potential upside in the stock.

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