Yum! Brands

YUM · NYSE

$151.60+$1.77 (+1.18%)TodayMarket closed · Oct 20, 7:51 PM ET

Prev close $149.83

YUM analyst rating

BuyConsensus of 17 analysts over the last 12 months. 59% rate it a buy.

Strong buy0
Buy10
Hold7
Underperform0
Sell0

12-month price target · 24 analysts

Average $176.13 (+16.2% upside)

Low: $148.47
Now: $151.60
High: $199.50

Upgrades and downgrades

The latest rating actions, newest first

YUM analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
TD Cowen	Oct 7, 2026	Maintains	Buy	$180.00 → $177.00	33%
Guggenheim	Oct 6, 2026	Maintains	Buy	$180.00 → $155.00	60%
JP Morgan	Sep 29, 2026	Maintains	Overweight	$160.00 → $150.00	64%
Argus Research	Sep 24, 2026	Downgrade	Buy → Hold	—	55%
Baird	Sep 16, 2026	Maintains	Outperform	$174.00 → $165.00	51%
Seaport Global	Sep 16, 2026	Initiates	Buy	$162.00	54%
Wells Fargo	Sep 10, 2026	Upgrade	Equal-Weight → Overweight	$165.00 → $175.00	57%
Argus Research	Aug 17, 2026	Maintains	Buy	$185.00 → $180.00	55%
JP Morgan	Aug 4, 2026	Maintains	Overweight	$170.00 → $160.00	64%
RBC Capital	Jul 31, 2026	Maintains	Sector Perform	$165.00 → $170.00	27%

The case for and against

Updated Oct 21, 2026

Bull case

Yum Brands is viewed positively because its asset-light, 97% franchised model converts a $68 billion-plus systemwide sales base into recurring royalties and marketing income, while 72% of units are international and the post-Pizza Hut portfolio is more focused. Taco Bell and KFC remain the twin growth engines, with management commentary implying roughly 7% pre-G&A profit growth for each, and the business could still deliver about 9% to 10% EBIT growth even after roughly 1% to 2% annual interest expense headwinds and modest G&A leverage. The Pizza Hut sale, expected to close in 3Q26, should improve capital efficiency through share repurchases and remove roughly 150 basis points of drag, supporting stronger EPS growth and a cleaner long-term growth profile.

Bear case

Yum Brands is challenged by slowing U.S. momentum, with KFC US same-store sales decelerating from 1H26 to 3Q26 and an incremental ~50 bps drag in 3Q26 that could prove structural, while domestic closures have already run near -5% y/y. The thesis is further pressured by reliance on China for unit growth, potential consumer weakness in international markets, and the risk that reinvestment into a KFC turnaround could weigh on near-term profitability even as the company remains 97% franchised and highly exposed to royalty-driven cash flows. Competitive intensity in the fragmented QSR market, difficult Taco Bell comparisons, and the planned Pizza Hut sale closing during the third quarter of 2026 add execution risk and may limit the company’s ability to offset deterioration in KFC International.

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