TD Cowen analyst Andrew Charles upgraded Yum! Brands (YUM) to Buy from Hold with a price target of $173, up from $162. The firm sees the likely sale of Pizza Hut amplifying Yum’s growth profile. The sale should drive “best in-class” development growth profile within the quick service sector and a clearer focus on Taco Bell comps, which TD models above consensus in 2026 and beyond, the analyst tells investors in a research note. TD sees a favorable risk/reward at current share levels, saying the worst of net restaurant development headwinds are now behind the Yum brand.
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