Piper Sandler analyst Brian Mullan raised the firm’s price target on Yum! Brands (YUM) to $155 from $150 and keeps a Neutral rating on the shares following reported earnings. The firm thinks the results were largely in line with expectations. Taco Bell U.S. continues to be a stand-out, with the Q1 same-store sales result +9.0% meaningfully out-performing the QSR category, and with the brand seemingly well positioned to navigate the current macro from here, Piper adds.
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