Citi cut Yum China (09987)'s revenue forecast for this year and next by 1% to 2%.
The Zhitong Finance App learned that Citi released a research report stating that it will cut Yum China (09987)'s revenue forecast for this year and next two years by 1% to 2%, and the net profit forecast will also be lowered by 3% and 5% accordingly. Citi expects Yum China's net profit to increase 10% to 908 million US dollars this year, and 10% to 996 million US dollars next year. According to the bank, due to the reduction in the number of shares, the Group's earnings per share will grow faster than net profit. Earnings per share are expected to increase by 14% and 11% this year and next, respectively. The target price was lowered from HK$573.56 to HK$559.9, maintaining a “buy” rating.