Notable Upgrades: BofA (BAC), Qualcomm (QCOM), Abercrombie & Fitch (ANF), Nike (NKE), Chipotle Mexican Grill (CMG)

Analysts at Keefe Bruyette are out with a report this morning upgrading shares of Bank of America Corporation (BAC) with a ‘Outperform‘ from ‘Market Perform‘ rating. The firm set its price target on the name at $20.

Bank of America Corp. shares are currently priced at 16.66x this year’s forecasted earnings, compared to the industry’s 20.65x earnings multiple. Ticker has a forward P/E of 9.84 and t-12 price-to-sales ratio of 2.09. EPS for the same period is $0.96.

In the past 52 weeks, shares of Charlotte, North Carolina-based banking giant have traded between a low of $14.60 and a high of $18.48 and are now at $15.94.

Shares are up 0.84% year-over-year ; down 9.45% year-to-date.

Analysts at Standpoint Research upgraded their rating on the shares of Qualcomm Incorporated (QCOM). In a research note published on Monday, the firm lifted the name with a ‘Buy‘ from ‘Hold‘ rating.

On valuation measures, Qualcomm Inc. shares are currently priced at 15.75x this year’s forecasted earnings, compared to the industry’s 39.14x earnings multiple. Ticker has a PEG and forward P/E ratio of 2.01 and 12.26, respectively. Price/Sales for the same period is 3.41 while EPS is $3.66. Currently, there are 18 analysts that rate QCOM a ‘Buy‘, 11 rate it a ‘Hold‘. 2 analysts rate it a ‘Sell‘.

QCOM has a median Wall Street price target of $70.50 with a high target of $85.00.

Abercrombie & Fitch Co. (ANF) was raised to ‘Overweight‘ from ‘Neutral‘ and it was given a $27 from $25 price target at Piper Jaffray on Monday.

ANF is up $1.11 at $17.56 on heavy volume. Midway through trading Monday, 2.85 million shares of Abercrombie & Fitch Co. have exchanged hands as compared to its average daily volume of 2.23 million shares. The stock has ranged in a price between $15.42 to $17.77 after having opened the day at $15.55 as compared to the previous trading day’s close of $16.45.

Over the past year, shares of New Albany, Ohio-based company have traded between a low of $15.42 and a high of $45.50.

Shares are down 61.08% year-over-year and 41.56% year-to-date

ANF is scheduled to report Q2/15 results August 26, before the open. Earningswhispers.com expects the company to report EPS loss of ($0.04). down from $0.19 in the year-earlier period.

Nike, Inc. (NKE) was upgraded to ‘Outperform‘ from ‘Market Perform‘ by Telsey Advisory Group analysts on Monday. The broker also raised its price target on the stock to $122 from $115.

NKE is currently printing a higher than average trading volume with the issue trading 6.13 million shares, compared to the average volume of 2.96 million. The stock began trading this morning at $100.39 to currently trade 0.06% higher from the prior days close of $106.87. On an intraday basis it has gotten as low as $94.50 and as high as $107.38.

Nike Inc. Cl B shares are priced at 28.85x this year’s forecasted earnings, compared to the industry’s 22.71x earnings multiple. The company’s current year and next year EPS growth estimates stand at 13.50% and 12.60% compared to the industry growth rates of 4.40% and 13.70%, respectively. NKE has a t-12 price-to-sales ratio of 2.99. EPS for the same period registers at $3.70.

Nike shares have declined 6.25% in the last 4 weeks while advancing 2.62% in the past three months. Over the past 5 trading sessions the stock has lost 6.55%. The Beaverton, Oregon-based company, which is currently valued at $91.30 billion, has a median Wall Street price target of $120.00 with a high target of $141.00.

Nike Inc. is up 36.95% year-over-year, compared with a 1.35% loss in the S&P 500.

Chipotle Mexican Grill, Inc. (CMG) was reiterated a ‘Neutral’ by Wedbush analysts on Monday. The broker however, raised its price target on the stock to $740 from $620.

Chipotle shares recently lost $0.02 to $719.99. The stock is up 5.72% year-over-year and has gained roughly 5.19% year-to-date. In the past 52 weeks, shares of Denver, Colorado-based restaurant chain have traded between a low of $597.33 and a high of $758.61.

Chipotle Mexican Grill Inc. closed Friday at $720.01. The name has a current market cap of $22.42 billion.

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