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<Research>Macquarie Reduces YUM CHINA's TP to $403, Rating Outperform
Recommend 3 Positive 6 Negative 5 |
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YUM CHINA's (09987.HK) (YUM.US) KFC and Pizza Hut logged flat same-store sales YoY in 1Q25, with customer traffic up 4% and 17% respectively, offsetting declines of 4% and 14% in average ticket size, in line with the company's strategy, Macquarie wrote in its research report. While maintaining its target of mid-single-digit system sales growth, YUM CHINA aims to open 1,600-1,800 new stores per year. Macquarie dropped its target price for the company's US shares from US$53.5 to US$52, and for the H-shares from $415 to $403, with an Outperform rating. AAStocks Financial News |
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