NEW YORK (TheStreet) -- Shares of Chipotle Mexican Grill (CMG) - Get Report are advancing 1.49% to $415 in pre-market trading on Tuesday after CLSA upgraded the stock two notches to "outperform" from "underperform."

The Mexican-style food chain's Chiptopia rewards program has brought back the company's more loyal customers while providing a large amount of consumer data, the firm wrote in a note cited by the Fly.

Management will likely leverage its momentum and data and make the loyalty program, which is currently running only from July to September, permanent, CLSA said.

Additionally, June checks in New York City indicate momentum has started to rebound for Chipotle, alleviating some concerns about declining food quality amid new food-safety rules, according to the firm. 

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.

Chipotle's strengths such as its very decent return on equity which we feel should persist. At the same time, however, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and poor profit margins.

You can view the full analysis from the report here: CMG

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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