Core Viewpoint - Morgan Stanley's research report indicates that Yum China will hold an Investor Day on the 17th of this month, where management is expected to present mid-term business plans, including growth metrics for the next two to three years such as sales, operating profit, earnings per share, and store count [1] Group 1 - The report suggests a 70% probability that Yum China will maintain stable same-store sales growth and expand by 1,600 to 1,800 stores annually [1] - The company is expected to increase the proportion of franchised and small stores to support a mid-single-digit annual sales growth rate, potentially saving costs and improving operating profit growth in the high single digits for Pizza Hut [1] - Morgan Stanley anticipates that the company's annual free cash flow will be approximately $1 billion, with a shareholder return yield of about 6% [1] Group 2 - Morgan Stanley maintains an "Overweight" rating on Yum China's U.S. stock, with a target price of $57 [1]
大行评级丨大摩：预计百胜中国投资者日将提及未来两至三年增长指标 评级“增持”