Schaeffer's Trading Floor Blog

Analyst Upgrades: Apple Inc. (AAPL), QUALCOMM, Inc. and Chipotle Mexican Grill, Inc.

Analysts upwardly revised their ratings on AAPL, QCOM, and CMG

by 6/12/2014 9:17 AM
Stocks quoted in this article:

Analysts are weighing in today on technology guru Apple Inc. (NASDAQ:AAPL), digital communications concern QUALCOMM, Inc. (NASDAQ:QCOM), and burrito master Chipotle Mexican Grill, Inc. (NYSE:CMG). Here's a quick roundup of today's bullish brokerage notes.

  • RBC is the most recent brokerage firm to revise its position on AAPL, offering up a split-adjusted price target of $100, while reiterating its "outperform" rating, this morning. Elsewhere, 30 of the 39 analysts weighing in on Apple Inc. have also dished out "buy" or better recommendations. However, the average 12-month price target of $92.88 sits at a discount to the shares' current price of $93.86 -- despite the stock's one-month gain of nearly 11%.

  • QCOM -- which is up 6.7% year-to-date to perch at $79.21 -- received its second bullish brokerage note of the week, when Canaccord Genuity upped its price target to $95 earlier today. For comparison, the consensus 12-month price target among analysts is $85.24, representing a modest 7.6% premium to QUALCOMM, Inc.'s current price. The brokerage crew has also been generous ratings-wise, with no less than 80% of the firms handing out "buy" or better endorsements, and not a single one holding on to a "sell" suggestion.

  • CMG has tacked on 11.8% over the last month to linger near $570.34, and this morning, the equity received a price-target hike to $625 from $560 at Raymond James. On the options front, meanwhile, Chipotle Mexican Grill, Inc. is looking at a Schaeffer's put/call open interest ratio (SOIR) of 0.96, which ranks lower than 86% of comparable readings taken during the past 12 months. In other words, call open interest on CMG (relative to put open interest) is heavier than usual among options expiring within the next three months, from a historical standpoint.

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