KFC owner Yum Brands down after TD Cowen downgrades stock
** Shares of KFC and Taco Bell owner Yum Brands YUM.N down 1.2% at $131.67 before the bell
** Brokerage TD Cowen downgrades YUM to "hold", citing challenges in its diversified portfolio
** Company has seen weak demand at its KFC restaurants in the U.S. due to stiff competition for value meals and promotions
** However, TD Cowen says it continues to view Taco Bell as the "crown jewel" of YUM's portfolio and the chainis well-positioned to gain share from success of unique menu innovation and compelling value
** Expects YUM to achieve Wall Street targetsfor full-year profit, mainly driven by cost cuts
** Analysts expect YUM to post annual adjusted profit of $5.64, according to data compiled by LSEG
** Nine of 30 brokerages rate the stock "buy" or higher and 21 "hold"; with a median PT of $147
** Up to Tuesday'sclose, stock had risen nearly 2% so far this year
Reporting by Ananya Mariam Rajesh in Bengaluru
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