Chipotle (NYSE:CMG): upgraded to Buy from Neutral at Janney Capital. Janney upgraded Chipotle to Buy from Neutral based on checks that indicate third quarter same-store-sales of +5.8 percent versus a consensus of +4.6 percent, as well as long-term opportunities to expand into breakfast offerings, lower 2014 and beyond commodity costs, and customer food satisfaction. The firm’s price target for the shares is $525.
Gap (NYSE:GPS): After Gap reported that its September net sales were flat compared with last year, Stifel expects analysts to reduce their estimates for the company. However, the firm recommends buying the stock on weakness, as it remains upbeat about the company’s longer term prospects.
Pier 1 Imports (NYSE:PIR): After meeting with Pier 1′s CFO, Oppenheimer notes that the company’s weak second quarter sales reflect a marketing misstep and do not indicate a more significant merchandising issue. The firm continues to expect the company’s results to strengthen in the future and the analyst keeps an Outperform rating on Pier 1′s shares.
Parker-Hannifin (NYSE:PH): Wells Fargo believes that Parker Hannifin’s near-term order trends could rise, leading to a significant increase in revenue expectations for the company. The firm bases its optimism on the Japanese machinery order report released last night which, according to the firm, suggests that the company’s diversified Industrial-International business segment may be seeing order momentum. Wells maintains an Outperform rating on the shares.
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