UPDATE: Goldman Sachs Downgrades Yum! Brands to Sell

Goldman Sachs is out with its report today on Yum! Brands YUM, downgrading YUM from Neutral to Sell. In a note to clients, Goldman Sachs writes, "We downgrade YUM to Sell from Neutral as we see risk to its China P&L, where YUM sources 40% of its profits. YUM's China SSS may slow by 2H11 as they have historically tracked with China GDP, which is showing signs of slowing." At the time of posting, shares of YUM were trading at $55.73, down 0.75% from Thursday's close.