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Fly News Breaks for April 22, 2016
CMG, YUM
Apr 22, 2016 | 06:45 EDT
JPMorgan analyst John Ivankoe removed Yum! Brands (YUM) from his firm's Analyst Focus List saying the company's conference call commentary leads to weaker forecasted China comps. He recommends accumulating the shares below $80. Ivankoe believes investors should take positions in Chipotle Mexican Grill (CMG) at current levels and added the shares to JPMorgan's Focus List. Current prices offer an attractive risk/reward entry point, the analyst tells investors in a research note. He has an Overweight rating on Yum! with an $85 price target and an Overweight rating on Chipotle with a $510 price target.