Yum China price target raised to $60.50 from $57.50 at BofA

BofA analyst Chen Luo raised the firm’s price target on Yum China (YUMC) to $60.50 from $57.50 and keeps a Buy rating on the shares. The firm tweaked its same-store sales growth and margin estimates, leading to minimal changes to EPS forecasts, and also raised its target multiples in its blended valuation, driving the firm’s increased price target The firm expects a “solid” Q1 and sees limited impact from a likely moderate increase of Meituan’s take rate, the analyst tells investors in a preview.