Yum! Brands shares are trading lower after Wells Fargo downgraded the stock from Overweight to Equal-Weight and lowered its price target from $150 to $135.
Portfolio Pulse from Benzinga Newsdesk
Yum! Brands' stock trades lower following a downgrade by Wells Fargo from Overweight to Equal-Weight and a reduction in the price target from $150 to $135.
January 11, 2024 | 1:38 pm
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Wells Fargo downgraded Yum! Brands from Overweight to Equal-Weight and lowered the price target from $150 to $135, likely leading to a negative short term impact on the stock.
Analyst downgrades typically lead to a negative perception among investors, as they suggest a less favorable outlook for the company's future performance. The reduction in the price target further indicates a lowered expectation of the stock's value, which can result in a decrease in investor confidence and a potential drop in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100