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Chipotle, GM Get Thumbs Up; Michael Kors Losing Fashionable Following

5/28/15 9:59 AM EDT
In Thursday's Analysts' Actions, TheStreet highlights upgrades for Chipotle Mexican Grill, Inc. (CMG) and General Motors Company (GM), along with ratings cuts for the struggling Michael Kors Holdings Ltd (KORS). Analysts at Miller Tabak raised their rating on Chipotle to BUY from HOLD early Thursday. Analysts at the firm also increased their price target on the burrito chain to $725 from its prior $715. Miller Tabak believes the burrito chain can deliver above-average earnings growth through the year 2016. General Motors also received a higher price target Thursday morning. Analysts at Morgan Stanley upgraded the automaker to EQUAL WEIGHT from UNDERWEIGHT. The firm issued a $28 price target on GM, saying various market forces could push GM to consider more radical strategic changes. Detroit-based General Motors designs, build and sell cars, trucks and automobiles parts globally. And finally, Michael Kors had its rating slashed at two firms. Goldman Sachs analysts downgraded the fashion brand to NEUTRAL from BUY, saying it lacks sales visibility. The firm also lowered its price target by nearly half to $50 from its prior $93 price target. Similarly, analysts at Telsey Advisory downgraded Michael Kors to MARKET PERFORM from its previous OUTPERFORM. Telsey analysts set a $50 price target matching Morgan Stanley's target. The firm cited lower sales outlook for the downgrade. TheStreet's Kurumi Fukushima reports in New York.
Stocks in this video: ^DJI^GSPC^IXICCMGGMKORS
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