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<Research>Daiwa Has Cautious View on CN Catering Next Yr, Expects YUM CHINA to Deliver More Resilient SSSG
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Daiwa released a research report saying that it received the latest updates from YUM CHINA (09987.HK)'s management yesterday, who remain confident in achieving the same-store sales growth targets of 2% for KFC and 1% for Pizza Hut in 4Q25. With strong customer traffic and reasonable discount strategies, the Group is expected to deliver more resilient same-store sales growth compared to peers, as most caterers are expected to have negative same-store sales growth in 2026. Daiwa lowered its 2025-2027 EPS forecasts for the Group by 2-5% to reflect a more conservative view on China's consumption recovery pace, with rating reiterated at Buy, and elevated its 12-month target price from $438 to $450, based on a 20x PE ratio, and now applied to its 2026 EPS estimation. AASTOCKS Financial News Website: www.aastocks.com |
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