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<Research>CMSI Trims YUM CHINA TP to $380.1; New Store Openings Juice Rev. Hike
Recommend 4 Positive 5 Negative 3 |
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CMSI issued a report on YUM CHINA (09987.HK), revising down its TP from $398.5 to $380.1 and maintaining an Overweight rating. According to the broker, the stock remained its top pick in the catering sector, with new store openings expected to propel revenue growth. Although CMSI predicted average unit price to decline 5% YoY in 2Q24, it still expected system sales to grow 8% YoY, mainly due to the opening of 1,600 new restaurants in the past 12 months. YUM CHINA's share buyback also helped bolster the stock price. AAStocks Financial News |
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