Analyst Upgrades: Chipotle, Fifth Third, and Macy's

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

Feb 2, 2015 at 9:27 AM
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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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