BofA lowered the firm’s price target on Yum! Brands (YUM) to $156 from $159 and keeps a Neutral rating on the shares. A Q2 EPS miss despite inline same-store sales growth reflected higher commodity costs at Taco Bell and KFC as well as a more normalized cost structure for the franchise business, the analyst tells investors. Following the report, the firm lowered its Q3 and FY25 EPS estimates to $1.40 and $6.05 from $1.51 and $6.19, respectively.
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