"Analysis Report": Goldman Sachs lowers its target price for Yum China to 555 yuan, with a "Buy" rating.
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Goldman Sachs has released a report stating that Yum China will announce its third-quarter performance on November 1st. It is expected that the quarterly sales, restaurant profit, and operating profit will increase by 9%, 8%, and 21% respectively compared to the previous year. It is also predicted that same-store sales for KFC and Pizza Hut will increase by 5% and 4% respectively, reaching 91% and 94% of pre-pandemic levels, which is higher than the industry average of about 75%. In terms of profit margin, the bank expects the restaurant profit margin to remain the same as the same period last year, at 18.
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