Analyst upgrades 5-02-07: CMG, MRK, NEM, Q and SIRI
Posted May 2nd 2007 11:05AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Good news, Sirius Satellite Radio (SIRI), Chipotle Mexican Grill'A' (CMG), Merck and Co (MRK), Newmont Mining (NEM), Qwest Communications Intl (Q)
MOST NOTEWORTHY: Newmont Mining Corp (NEM), Qwest Communications International Inc (Q), Sirius Satellite Radio Inc (SIRI), Chipotle Mexican Grill, Inc (CMG) and American Eagle Outfitters (AEO) were today's noteworthy upgrades:
- Prudential upgraded shares of Newmont Mining Corp (NYSE: NEM) to Neutral from Underweight citing valuation, higher gold and copper prices and specific mine factors that should lead to an operational turnaround.
- Credit Suisse raised shares of Qwest Communications International Inc (NYSE: Q) to Neutral from Underperform as the firm believes management is less likely to engage in a fiber video build and cites the increase in the company's NOL carry-forwards.
- Raymond James upgraded Chipotle Mexican Grill (NYSE: CMG) to Outperform from Market Perform. Morgan Keegan also raised shares to Outperform from Market Perform, citing better-than-projected operating fundamentals and growth prospects.
OTHER UPGRADES:
- Buffalo Wild Winds (NASDAQ: BWLD) was upgraded to Outperform from Market Perform at Morgan Keegan.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: aeo, american eagle, AmericanEagle, analyst, arris, arrs, buffalo, bwld, chipotle, chrw, cmg, merck, mrk, newmonth mining, NewmonthMining, qwest, rating, robinson, siri, sirius, theflyonthewall.com, upgrade, watson, wpi
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