Barclays cuts Yum! Brands price target, says has clear competitive advantage

Barclays analyst Jeffrey Bernstein lowered the firm’s price target on Yum! Brands (YUM) to $164 from $167 and keeps an Overweight rating on the shares following “in line” Q2 results. It is hard not to be impressed by Yum’s ability to mitigate the near-term headwinds, the firm told investors in a research note. Barclays added that Yum! Brands’ size and scale are a clear competitive advantage. The firm concluded that the company should be rewarded for its global defensive prowess.