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Yum! Brands upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs analyst Christine Cho upgraded Yum! Brands (YUM) to Buy from Neutral with an unchanged price target of $167. The firm cites the company’s “best-in-class unit growth trajectory” versus most peers and its high franchise mix for the upgrade. The mix builds relative resilience into the business, the analyst tells investors in a research note. Further, Goldman believes Yum! is seeing improved digital integration across brands and at the enterprise level to improve operational efficiency and to drive sales acceleration. The firm sees 16% upside in the shares.

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