Yum China price target lowered to $56.50 from $60.50 at BofA

BofA lowered the firm’s price target on Yum China (YUMC) to $56.50 from $60.50 and keeps a Buy rating on the shares. With shares having lagged the MSCI China by 16% since “Liberation Day,” the firm believes negatives are already in the price and that recent delivery subsidies by online platforms could serve as a short-term catalyst, the analyst tells investors. Channel checks suggest 0%-1% same-store sales growth in Q2, but “more skewed to 1%,” and suggest that June could be better than expected, the analyst added.