This morning, UBS initiated coverage on shares of Yum! Brands (NYSE:YUM) with a buy rating as the fast food chain is expanding its presence in the fasting growing global economies. In the report, UBS set a a $85 price target. Shares of YUM were modestly higher today, picking up 0.4% so far.
JP Morgan increased its price target on shares of Yelp (NYSE:YELP) to $89 as channel checks reveal strong local demand coupled with growing coverage. In the report, JP Morgan increased its EPS estimates as well. Shares of Yelp were sharply higher on the report, climbing 7.4% today.
And Morgan Stanley upgraded shares of Valeant Pharmaceuticals (NYSE:VRX) from equal weight to overweight noting that the market is not fully realizing the company's growth potential. With the upgrade, Morgan Stanley set a $145 price target. Shares of Valeant Pharmaceuticals were higher on the news, gaining 2.6% on Wednesday.
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