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<Research>Nomura Lifts YUM CHINA's TP to $415; Balanced Growth Deserves More Recognition
Recommend 2 Positive 3 Negative 1 |
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YUM CHINA (09987.HK)'s 3Q OP beat expectations with margin improvement, while its quarterly revenue aligned with expectations by rising 5% YoY to US$3.07 billion, according to a report from Nomura. Boosted by resilient restaurant margins and controlled G&A expenses, the company's OP and core operating earnings increased by 15% and 18% YoY to US$371 million and US$369 million respectively, surpassing expectations. The broker lifted its TP for YUM CHINA's H-shares from $365.82 to $415 with a Buy rating. It also noted that YUM CHINA, in order to further expand its shareholder return plan, announced an additional US$1.5 billion of share buybacks or dividend payout from 2024 to 2026, providing further support to its stock price. AAStocks Financial News |
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