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<Research>BofAS Lifts YUM CHINA TP to $380 w/ Higher 2024, 2025 EPS Forecasts
Recommend 10 Positive 11 Negative 5 |
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BofA Securities released a research report listing YUM CHINA (09987.HK) (YUMC.US) as a "FIFO" play, considering it one of the few stocks in China's consumer sector with minimal risk of earnings downside. Based on improved SSSG and profit margins, a stronger RMB, share buybacks, and fair value gain from its stake in MEITUAN-W (03690.HK), the broker raised its 2024 and 2025 EPS forecasts for YUM CHINA by 3% and 2%, while elevating the TP from $323 to $380. AAStocks Financial News |
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