Yum China (NYSE:YUMC) Cut to "Strong Sell" at Zacks Investment Research

Zacks Investment Research downgraded shares of Yum China (NYSE:YUMC) from a hold rating to a strong sell rating in a report issued on Tuesday morning, Zacks.com reports. They currently have $49.00 price objective on the stock. According to Zacks, "Shares of Yum China have underperformed the industry in the past six months due to the coronavirus pandemic induced concerns. Dismal traffic at transportations and tourist locations hurt the company. This along with a rise in labor and food costs remain concerns. Earnings estimates for 2021 have witnessed downward revisions over the past seven days. However, emphasis on menu innovation, unit…