UPDATE: Morgan Stanley Reiterates On Yum! Brands Following Analyst Day

In a report published Friday, Morgan Stanley analyst John Glass reiterated an Equal-Weight rating on Yum! Brands, Inc. (NYSE: YUM), and raised the price target from $71.00 to $74.00.

In the report, Morgan Stanley noted, “YUM's Analyst Day reinforced the company's commitment to a diversified global portfolio and majority franchised business model with select equity ownership. FY15 guidance assumes no profit growth from KFC China, so upside possible, but timing of China recovery remains highly uncertain.”

Yum! Brands closed on Thursday at $72.02.