Yum! Brands, Inc. (NYSE:YUM) price target was revised at Oppenheimer to $88 from $87 while the research firm maintained its outperform rating. Moreover, as per the research analyst, Yum! will be able to generate revenue from its franchise business after spinning off its China business by the end of this year. The spin-off will make Yum! more attractive for the investors and the analyst believes that it is the right time to own Yum! shares in order to benefit from accelerated cash returns later this year.
Oppenheimer analyst, in the research note, raised the earnings per share (EPS) estimate from $3.54 to $3.60 for the current year. The analyst also revised the EPS estimate for 2017 to $4.10 from $4.03, as the firm believes the EPS of the company will increase on the back of share repurchase program.
Yum! stock has gained 11.42% market value year-to-date (YTD) against 0.03% and 0.64% increase in S&P 500 Index and Down Jones Index, respectively. Yum! stock closed at $82.27, up 2.11% as of yesterday and has a 52-week range of $64.58-95.90.