Core Viewpoint - Yum China (YUMC) reported better-than-expected performance in the last quarter, driven by strong same-store sales at KFC and operational leverage from both KFC and Pizza Hut [1][2] Group 1: Financial Performance - The company's sales growth and operating profit/net profit exceeded both the firm's and market expectations [2] - The management reaffirmed mid-term guidance for 2026 to 2028, expecting positive same-store sales growth and transaction volume in the first quarter of this year, although profit margins are expected to remain stable year-on-year due to a high base [2] Group 2: Profit Forecasts - The firm raised Yum China's net profit forecasts for the next two years by 5% each and introduced a forecast for 2028 for the first time, anticipating a compound annual growth rate of approximately 7% for operating profit [2] - The target price for Yum's U.S. stock was increased from $58.75 to $63.64, while the target price for its H-shares was raised from HKD 455.32 to HKD 497, maintaining a "Buy" rating [2]
百胜中国(YUMC)盘前续升近3% 今日H股大涨11% 集团料今年首季同店销售增长及交易量为正增长