RBC Capital Raises Price Target to Account for Yum! Brands (YUM) New Outlook

RBC Capital reiterated a Top Pick rating on Yum! Brands (NYSE: YUM), and raised the price target to $87.00 (from $80.00), to account for the company's new outlook.

Analyst David Palmer commented, "We are raising our price target to reflect the value creation likely to occur from the spin-off of Yum! China. While Yum! China continues to struggle, we believe upside from the spin more than offsets a slower than expected pace of recovery."

For an analyst ratings summary and ratings history on Yum! Brands click here. For more ratings news on Yum! Brands click here.

Shares of Yum! Brands closed at $73.03 yesterday.

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