by Christopher Freeburn | March 6, 2014 11:20 am
On Thursday, Robert W. Baird raised its rating for Yum! Brands (YUM), sending YUM stock up about 3% in morning trading.
YUM stock gained after analysts at the investment firm issued a research note changing their rating for the fast food chain operator from “neutral” to “outperform.” Robert W. Baird also hiked its price target for YUM stock from $79 to $87 a share, WKRB notes.
The new target price is more than 16% higher than the $74.81 a share that YUM stock closed at on Wednesday.
Last month, YUM! Brands — which operates KFC, Pizza Hut and Taco Bell restaurant chains — posted fourth-quarter earnings that topped analysts forecasts.
YUM stock has rise more than 10% over the past 12 months.
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