Analyst Upgrades: Chipotle Mexican Grill, Inc., Fifth Third Bancorp, and Macy's, Inc.

Analysts upwardly revised their ratings on Chipotle Mexican Grill, Inc. (CMG), Fifth Third Bancorp (FITB), and Macy's Inc. (M)

by Alex Eppstein

Published on Feb 2, 2015 at 9:27 AM
Updated on Apr 20, 2015 at 5:32 PM

Analysts are weighing in today on burrito chain Chipotle Mexican Grill, Inc. (NYSE:CMG), financial issue Fifth Third Bancorp (NASDAQ:FITB), and department store operator Macy's Inc. (NYSE:M). Here's a quick roundup of today's bullish brokerage notes on CMG, FITB, and M.

  • Ahead of tomorrow evening's earnings report, CMG saw its price target boosted by $100 to $760 at Wunderlich, which also reiterated a "hold" designation. The bullish note is well-deserved, given the stock's 28.6% year-over-year advance to perch at $709.84, and recent record high of $727.97. Additional positive attention could come down the pike, too, with half of the 20 analysts following Chipotle Mexican Grill, Inc. sitting on tepid "hold" ratings -- and the other half sporting "buy" or better opinions. Also, CMG's consensus 12-month price target of $735.39 is just 3.6% higher than the current price.

  • FITB was upgraded to "outperform" from "market perform" at KBW, despite already shedding more than 15% of its value in 2015 to trade at $17.30. However, a slim majority of the brokerage bunch remains in the skeptics' corner, as 55% have doled out a "hold" rating, compared to 45% handing out a "buy" or better. On the charts, Fifth Third Bancorp is feeling the heat from its descending 10-day moving average, which has pressured the shares lower since the start of the new year.

  • Finally, Evercore ISI initiated coverage on M with a "buy" recommendation (other retailers weren't so lucky). This isn't surprising, considering the stocks' 20% year-over-year lead, and its most recent record high of $68.30, notched early last month. Additional bullish brokerage notes could be forthcoming, as well. Six of the analysts tracking Macy's, Inc. have designated it a "hold" -- versus five "strong buys" and one "buy" -- and the security's average 12-month price target of $67.74 stands at a 6% premium to current trading levels.

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