Yum! Brands downgraded to Neutral from Overweight at JPMorgan JPMorgan downgraded Yum! Brands to Neutral citing valuation as it believes shares are already pricing in a China recovery through FY15. The firm raised its price target for shares to $80 from $77.
Yum! Brands authorizes up to $1B in share repurchases Yum! Brands board authorized the company to repurchase up to $1B in additional shares of common stock. The $1B in additional share repurchases of the company’s outstanding common stock is authorized through May 31, 2016.