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Fly News Breaks for November 26, 2019
BLUE, MAA, DX, LN, CMG
Nov 26, 2019 | 10:09 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Chipotle (CMG) upgraded to Outperform from Market Perform at Cowen with analyst Andrew Charles saying he sees upside to expectations for the company's comps and earnings from the growth of its digital sales, growing consumer trend calling for food transparency, higher advertising budget, and the success of its loyalty program. 2. Line Corp. (LN) upgraded to Hold from Underperform at Jefferies. 3. Dynex Capital (DX) upgraded to Outperform from Market Perform at Keefe Bruyette with analyst Eric Hagen saying with both nominal and option-adjusted agency mortgage-backed security spreads wide, it is "hard to overlook" Dynex's attractive valuation. 4. MAA (MAA) upgraded to Sector Perform from Underperform at Scotiabank. 5. Bluebird Bio (BLUE) upgraded to Outperform from Market Perform at SVB Leerink with analyst Mani Foroohar noting the stock has fallen 51% since early March. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For CMG;LN;DX;MAA;BLUE From the Last 2 Days
CMG
Apr 22, 2021 | 16:42 EDT
Stocks were in a narrow range in morning trading and searching for direction. That direction was... To see the rest of the story go to thefly.com. See Story Here
CMG
Apr 22, 2021 | 12:31 EDT
The major averages are mixed at midday - with the Nasdaq a bit higher, the Dow a bit lower and the S&P little changed - as a rebound in concern over the virus continues to be weighed against optimism over earnings. ECONOMIC EVENTS: In... To see the rest of the story go to thefly.com. See Story Here
CMG
Apr 22, 2021 | 08:50 EDT
BTIG analyst Peter Saleh raised the firm's price target on Chipotle to $1,725 from $1,600 and keeps a Buy rating on the shares. The company reported another stellar quarter that was capped off with high-teens same-store sales and the highest restaurant-level margin in over five years, the analyst tells investors in a research note. Saleh adds that the combination of "healthy" double-digit comps and higher delivery prices should drive full-year restaurant margins to their best finish since before the food safety crisis.
CMG
Apr 22, 2021 | 08:38 EDT
KeyBanc analyst Eric Gonzalez raised the firm's price target on Chipotle to $1,800 from $1,725 and keeps an Overweight rating on the shares. The analyst notes Chipotle's Q1 report included same-store sales results that were largely in line with his estimates, coupled with better-than-expected profitability despite anticipated drags from COVID-19 related costs, elevated marketing expenses, delivery fees, and higher cost proteins. In addition, same-store sales momentum carried into early Q2 and the company expects to narrow the gap between its AUVs and its store-level margin algorithm as soon as this quarter, which was a significant upside surprise, Gonzalez contends.
CMG
Apr 22, 2021 | 08:16 EDT
Credit Suisse analyst Lauren Silberman raised the firm's price target on Chipotle to $1,875 from $1,760 and keeps an Outperform rating on the shares following quarterly results. The analyst argues that Chipotle continues to execute on top-line with a multifaceted sales strategy, enhancing visibility to the path to $3M-plus AUVs. Silberman sees no obvious capacity constraints to throughput given the company's double production lanes, which can effectively double in-store capacity at a 50% digital mix. Further, she points out that Chipotle continues to retain 80%-85% of digital sales even as dining rooms reopen, and there appears to be limited overlap between in-store and digital customers, underscoring her view that Chipotle should benefit as consumer mobility increases.
CMG
Apr 22, 2021 | 08:00 EDT
Wells Fargo analyst Jon Tower raised the firm's price target on Chipotle to $1,818 from $1,800 and keeps an Overweight rating on the shares following quarterly results. The analyst believes it is difficult to cast Chipotle's Q1 results/outlook in a negative light, as the majority of its key long-term value drivers continued trending in a positive direction.
CMG
Apr 22, 2021 | 07:53 EDT
Cowen analyst Andrew Charles lowered the firm's price target on Chipotle to $1850 from $1900 and keeps an Outperform rating on the shares. The analyst said he would be a buyer on any weakness as the long term story remains on track and he believes guidance implies too steep of a deceleration in comps.
CMG
Apr 22, 2021 | 07:21 EDT
Morgan Stanley analyst John Glass raised the firm's price target on Chipotle to $1,602 from $1,476 and keeps an Equal Weight rating on the shares as he raised his FY21 and FY22 EPS estimates with upward adjustments to sales but also store margins following the company's quarterly report. He thinks the company's Q2 sales guidance may be conservative and that digital sales trends suggest these will remain healthy through the re-opening, Glass added.
CMG
Apr 22, 2021 | 07:13 EDT
BMO Capital analyst Andrew Strelzik raised the firm's price target on Chipotle to $1,460 from $1,415 but keeps a Market Perform rating on the shares. The company's Q1 earnings topped expectations driven by a lower tax rate, with sales trends also keeping pace and margins taking a "meaningful" step forward, the analyst tells investors in a research note. Strelzik adds that data suggest a "steady" digital/off-premise sales mix at Chipotle, even as dine-in business gains momentum exiting the pandemic, though at current levels the risk-reward on the stock looks "more balanced".
CMG
Apr 22, 2021 | 06:25 EDT
Barclays analyst Jeffrey Bernstein raised the firm's price target on Chipotle Mexican Grill to $1,530 from $1,450 and keeps an Equal Weight rating on the shares. The company reported a "solid" Q1 with comps in-line and earnings above expectation, Bernstein tells investors in a research note. The analyst expects the shares to trade in-line with the broader market today.
CMG
Apr 21, 2021 | 18:51 EDT
Check out this evening's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGSQualtrics... To see the rest of the story go to thefly.com. See Story Here