(McDonald's, Tim Hortons upgrade/downgrade report updated with ratings on Chipotle Mexican Grill and Cheesecake Factory.)
NEW YORK (
shares rose while
fell Tuesday after the pair received some mixed broker action.
RBC Capital Markets analyst Lawrence A. Miller upgraded shares of McDonald's to outperform, from sector perform, but maintained his price target of $85.
Miller issued a downgrade on shares of Canadian coffee shop chain Tim Hortons. The analyst now rates the chain sector perform, down from outperform, though he maintained a $45 price target on the stock.
McDonald's shares gained 1.4% in afternoon trading to $75.06.
Tim Hortons shares fell 2.7% to $41.43.
Elsewhere in the restaurant sector, analysts from Stifel Nicolaus lifted their price target on
Chipotle Mexican Grill
last week by $45 to $260. The analysts had a buy rating on the stock.
Chipotle shares were upgraded to buy from hold by analysts at Miller Tabak. The firm also raised its price target on Chipotle shares to $255, from $210.
Also last week,
Bank of America/Merrill Lynch
analyst Joseph T. Buckley upgraded his rating on
shares to buy, from neutral.
The casual dining chain's shares had tumbled earlier last week after
Cheesecake Factory offered disappointing preliminary fourth-quarter sales figures.
Chipotle shares were 1.9% lower Tuesday afternoon at $230.51 while Cheesecake lost 1.2% at $30.25.
-- Written by Miriam Marcus Reimer in New York.
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