Wells Fargo raised the firm’s price target on Yum! Brands (YUM) to $160 from $155 and keeps an Equal Weight rating on the shares. The firm notes the company’s Q4 comparable sales beat expectations and ex-Pizza Hut performance is strong. But amid positive sentiment and high expectations, Wells suspects the Pizza Hut review may prove a near-term overhang. Amidst deal uncertainty, the firm sees shares range bound.
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