Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Chipotle (CMG) upgraded to Hold from Underperform at Jefferies with analyst Andy Barish saying the current valuation and consensus estimates "now reflect the reality" of Chipotle's path to recovery. 2. Biogen (BIIB) upgraded to Buy from Neutral at Goldman Sachs with analyst Terence Flynn saying the company's balance sheet is under-levered, which provides flexibility, while Aducanumab provides Alzheimer's optionality. 3. DSW (DSW) upgraded to Outperform from Neutral at Wedbush with the firm saying it is more confident that second quarter results will beat expectations and that the company will reiterate its full-year guidance after conducting checks and speaking with the company. 4. Electronic Arts (EA) upgraded to Buy from Neutral at BofA/Merrill with analyst Justin Post citing a strong fiscal 2019 outlook. 5. Novartis (NVS) upgraded to Overweight from Underweight at Morgan Stanley with analyst Vincent Meunier upgrading the company two notches to Overweight from Underweight following a "massive" reset in consensus expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Raymond James analyst Brian Vaccaro raised the firm's price target on Chipotle (CMG) to $3,300 from $3,200 and keeps an Outperform rating on the shares. The firm maintains a selective stance towards its restaurant coverage universe as industry sales have underwhelmed in recent months, causing Raymond James to increasingly favor stocks it view as having "idiosyncratic factors trading at attractive valuations," such as Brinker (EAT), Shake Shack (SHAK), First Watch (FWRG) and Bloomin' Brands (BLMN), the analyst tells investors in a group earnings preview note.

Chipotle Mexican Grill announced the opening of its first location in Kuwait City in partnership with leading international franchise retail operator Alshaya Group. The restaurant has been operating with adjusted hours since the beginning of the month to account for holidays and training and will hold its official grand opening on April 23. Chipotle's location in Kuwait marks the first time the company has entered a new country in over 10 years. The new restaurant is located at The Avenues, Kuwait's largest shopping mall and a hub for international and local brands with over 1,100 stores and approximately one million visitors per week.