Yum! Brands (NYSE:YUM) Focus on Asia, Africa

Yum! Brands (NYSE:YUM) has targeted Asia and Africa as their growth catalysts, and that includes nations outside of China, including India.

Jefferies (NYSE:JEF) noted, "Management highlighted the opportunities in Africa and the rest of Asia outside Mainland China, while briefly touching on the significant opportunities in India (1.2B people with 0.2 units per million), which is following a remarkably similar growth path to where the China business was from 1987-1996."

Full year EPS estimates for 2011 were raised from $2.78 to $2.79.

Jefferies maintains a "Buy" rating on Yum! Brands, which closed Thursday at $49.66, down $0.61, or 1.21 percent. They have a price target of $47 on the company, raising it from $45.