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Shares of Yum China Holdings (YUMC) were up more than 5% Monday following positive analyst comments following last week's earnings report.
Morgan Stanley reiterated an overweight recommendation to investors on Yum China, which was carved out of Yum Brands (YUM) last year. Morgan Stanley raised its price target to $45. The shares were recently changing hands at $42.90.
In addition, Nomura Instinet initiated coverage of the stock with a Buy rating and $51.60 price target. Analyst Scott Hong thinks Yum China "has just entered a higher growth trajectory," and he expects annual earnings growth of 14% through fiscal 2019, according to TheFly.com.
On Friday, Deutsche Bank upgraded the stock to Buy, according to TheFly.com.
Last week, Yum China said CEO Micky Pant will turn over the reins on March 1, 2018 to Joey Wat, a woman who was named COO of Yum China in February. See our free post on Sweet or Sour? Yum China Gains Despite Earnings Miss, in which Bernstein analysts Sara H. Senatore, Stephanie Ng and Anna Papp explain their lukewarm "market perform" rating on the stock. They raised their price target last week to $43 from $39.
The iShares China Large-Cap exchange-traded fund (FXI) was down 0.3%.
