Oppenheimer reiterated its outperform rating for Yum Brands shares due to the company's bullish new financial goals presented at the analyst day Tuesday.
Yum Brands is in the process of splitting off its China business, which will trade as an independent company called Yum China on Nov. 1.
"Our attraction to a top idea grows...[Yum! Brands'] Analyst Day highlighted our overall attraction to the separation and the opportunity for both companies post-split," analyst Brian Bittner wrote in a note to clients Tuesday. "New-YUM's business model resembles scarcity, possesses a unique cost-cutting opportunity and should reliably return significant capital to shareholders."
Bittner's picks have a 12.7 percent 1-year average return with a 66 percent success rate, according to analyst ranking service TipRanks, placing him in the top 1 percent of all Wall Street analysts covering any industry.