Schaeffer's Trading Floor Blog
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Analysts are weighing in today on restaurateur Chipotle Mexican Grill, Inc. (NYSE:CMG), as well as casino concerns Las Vegas Sands Corp. (NYSE:LVS) and Wynn Resorts, Limited (NASDAQ:WYNN). Here's a quick roundup of today's bullish brokerage notes.

  • Janney upgraded CMG to "buy" from "neutral" and set a $525 price target, which represents expected upside of 19.5% to the stock's current perch at $439.40. While Chipotle Mexican Grill, Inc. -- slated to report earnings on Oct. 17 -- hasn't confirmed plans to launch a national breakfast campaign, Janney says it likes the potential there, and also waxed optimistic on CMG's near-term same-store sales outlook. Despite its quest for new highs -- the equity notched an annual high of $441.90 out of the gate this morning -- 12 out of 22 analysts maintain "hold" or worse opinions. Plus, short interest represents more than eight sessions' worth of pent-up buying demand, at CMG's average pace of trading. More upbeat analyst attention or a short-squeeze situation could translate into a contrarian boon for the shares.

  • J.P. Morgan Securities lifted its price target on LVS by $3 to $75, and reiterated its "overweight" rating on the stock, which sits at $67.16 this morning. Option traders, on the other hand, are growing increasingly bearish ahead of the company's turn in the earnings spotlight on Oct. 17. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security's 10-day put/call volume ratio of 0.88 sits just 8 percentage points from a 12-month peak. In other words, option buyers have picked up Las Vegas Sands Corp. puts, relative to calls, at a near-annual-high clip during the past two weeks. LVS has added 45.2% in 2013, and touched a five-year acme of $67.35 in late September.

  • J.P. Morgan Securities also weighed in on WYNN, hiking its price target to $183 from $155, and underscoring its "overweight" opinion. The stock tagged a two-year peak of $164.49 this morning, before parings its gains to rest at $164.00, but has yet to convince the Street of its strength. The equity's 10-day ISE/CBOE/PHLX put/call volume ratio of 2.25 stands higher than 94% of all other readings of the past year, hinting at a much healthier-than-usual appetite for long puts over calls of late. Meanwhile, short interest edged 13.3% higher during the last two reporting periods, and now represents more than a week's worth of pent-up buying demand, at WYNN's average daily trading volume. Should Wynn Resorts, Limited continue to climb up the charts, a mass exodus of bears could add contrarian fuel to the stock's fire.

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