CKF – UBS rates the stock as Neutral

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First half results beat UBS estimates by 10%. The broker acknowledges it underestimated the potential cost containment within KFC, and Sizzler also surprised on the upside.

The broker considers the valuation relatively full and maintains a Neutral rating. Target is raised to $5.75 from $4.75.

Sector: Consumer Services.

Target price is $5.75.Current Price is $5.88. Difference: ($0.13) – (brackets indicate current price is over target). If CKF meets the UBS target it will return approximately -2% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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