Yum! Brands price target raised to $150 from $139 at BMO Capital

BMO Capital analyst Andrew Strelzik raised the firm’s price target on Yum! Brands (YUM) to $150 from $139 and keeps a Market Perform rating on the shares. The company’s Q1 earnings topped consensus, reflecting favorable interest expense and taxes, while operating profit fell below consensus, with blended comp largely in line and Taco Bell upside offsetting Pizza Hut softness, the analyst tells investors in a research note. Yum’s portfolio should be well-suited for a softer consumer spending environment, but the competitive environment creates risk and risk/reward on the stock appears balanced, the firm adds.