NEW YORK (TheStreet) -- Shares of Chipotle Mexican Grill (CMG) are higher by 1.5% on Friday morning, after the stock was upgraded to outperform from market perform by analysts at BMO Capital. They also raised their price target to $760 from $693.
On CNBC's "Mad Dash" segment, TheStreet's Jim Cramer said he believes investors should get long Chipotle once the negative news for the stock has been adequately priced into the shares.
Apparently, the analysts at BMO Capital feel that is the case, and Cramer, the portfolio manager of Action Alerts PLUS portfolio, agrees with the call. The pork problem can go away, and shares can go higher, he said.
People go to Chipotle because they want natural and organic food. But it's not just Chipotle's stock that's felt the pinch. Shares of Fiesta Restaurant Group (FRGI) and Sonic (SONC), the latter of which "seems like such a buy," should both be trading better too, he said.
However, as long as gas prices continue to creep up, investors feel the need to sell these stocks, he explained.
One of its most valuable assets is actually its website, as Western Union has cross-border agreements with so many different countries. Most companies don't have that, but Western Union is able to send money to over 100 countries because of the agreements it has in place, he said.
"This is a keeper" and the stock is likely to continue higher, Cramer concluded.