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Investing.com -- JP Morgan upgraded Yum Brands to Overweight from Neutral, citing consistent unit growth, strong free cash flow, and a more attractive valuation following a pullback in the stock.
“Newly appointed CEO Chris Turner is likely to continue tech focus to drive franchisee returns,” analysts at JP Morgan wrote.
The brokerage said newly appointed CEO Chris Turner is likely to maintain the company’s focus on technology investments that support franchisee returns.
It expects Yum to deliver more than 4% annual global unit growth, led by 8.8% growth in China, with Taco Bell and KFC also contributing.
JPMorgan set a December 2026 price target of $162 for the stock, up from prior estimates, and noted that shares have returned to levels first reached in 2021.
Yum Brands operates KFC, Taco Bell, Pizza Hut and The Habit Burger Grill chains.