El Pollo Loco Gets a Slew of New Coverage on Wall Street

In Tuesday's Analysts' Actions, Jefferies reiterates its call on Sprint, American Express gets an upgrade at Macquarie and mixed feelings on El Pollo Loco. Sprint (S) shares traded lower after Jefferies (JEF) 'reiterated its 'Underperform' rating on the stock. The firm lowered its price target to $4 from $7. Jefferies says it expects Sprint's newly announced data plan to have a muted response because the telecom company is continuing to have network issues. A slew of analysts initiated cautious ratings on El Pollo Loco (LOCO) including Morgan Stanley. The firm is starting its coverage with an 'Underweight' rating and a $22 price target. But, William Blair is going against the trend and initiated coverage with an 'Outperform' rating. The analyst at William Blair thinks 'the company can generate earnings growth over the next three years.' American Express (AMEX) was upgraded at Macquarie to 'Neutral' from 'Underperform' based on valuation. The price target remains unchanged at $91. TheStreet's Susannah Lee has details from New York.