02:57 PM EST, 03/05/2025 (MT Newswires) -- Yum! Brands ( YUM ) has impressive same-store sales, potential for higher average unit volume, improved restaurant margins and international expansion, Oppenheimer said in a note emailed Wednesday.

The firm said that Taco Bell's financial growth remains impressive with Q1 same-store sales growth to outpace market expectations. The company is aiming to reach 10,000 locations in the US by 2030.

Taco Bell's growth strategy includes a more aggressive plans this year, capitalizing on new dining occasions, accelerating digital initiatives, among others, according to the note.

Oppenheimer said that digital innovation provides a significant competitive advantage to Yum! Brands ( YUM ) and its plan to boost Taco Bell's digital sales mix to over 60% by 2030 from 35% currently is expected to enhance margins substantially.

The brokerage raised its price target for Yum! Brands ( YUM ) to $185 from $160 and reiterated its outperform rating.

Price: 160.10, Change: +1.69, Percent Change: +1.07