YUM•Citi said Yum! Brands' third-quarter results were incrementally positive for Collins Foods, with KFC sales in Australia continuing to track 3% in the quarter. Collins Foods shares fell as much as 0.7% to A$9.08.
Citi said Yum!'s third-quarter results were incrementally positive for Collins Foods despite increasing macro challenges. KFC in Australia, operated by Collins Foods, remained resilient compared with the second quarter, with sales continuing to track 3%.
Collins Foods shares fell as much as 0.7% to A$9.08. Seven of 12 analysts rated the stock buy or higher, while five rated it hold; the median price target was A$10.50. The stock was down 12.1% year to date.
