Analyst Upgrades: Chipotle, 3D Systems, and Kate Spade

Analysts upwardly revised their ratings and price targets on Chipotle Mexican Grill, Inc. (CMG), 3D Systems Corporation (DDD), and Kate Spade & Co (KATE)

Apr 14, 2016 at 9:22 AM
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Analysts are weighing in on fast-casual restaurant chain Chipotle Mexican Grill, Inc. (NYSE:CMG), 3-D printing stock 3D Systems Corporation (NYSE:DDD), and upscale accessories designer Kate Spade & Co (NYSE:KATE). Here's a quick roundup of today's bullish brokerage notes on CMG, DDD, and KATE.
  • J. P. Morgan Securities upgraded its opinion of CMG to "overweight" from "neutral," sending the stock 2.7% higher pre-market. The shares could certainly use a boost, considering they've lost over 41% since hitting an all-time high of $758.61 in early August to trade at $444.66. That hasn't stopped options traders from betting bullishly on Chipotle Mexican Grill, Inc. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have bought to open 1.11 calls for each put during the past 10 days -- with the corresponding call/put volume ratio outstripping 86% of all others from the last year.

  • DDD is pointed 7.4% higher in electronic trading, after BofA-Merrill Lynch bumped its rating up to a "buy." The bullish note reflects the technical muscle the stock has been flexing since its Jan. 20 five-year low of $6 -- rocketing 177% to register at $16.60. If other analysts start to follow suit, 3D Systems Corporation could extend its run to the upside. After all, just one of 15 brokerage firms tracking the stock rate it a "buy."

  • KATE was added to Citigroup's "Focus List," with the brokerage firm citing the stock's growth prospects and fair price. As a result, the stock has added 1% ahead of the open. Speaking more broadly, Kate Spade & Co has been on a mission after its double-bottom in the $15-$16 area in January and February, closing last night at $24.87. As the shares have charged higher, short sellers have hit the exits. During the latest reporting period, short interest on KATE fell 16.8% -- though 11.4 million shares remain shorted, representing a week's worth of pent-up buying power, at the stock's typical trading volumes.
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