Markets rallied on Wednesday, recouping most of the weekly losses, with the S&P finishing the session up .93%. Asia markets closed higher overnight while Europe stocks are in the green this morning. U.S. futures are pointing to a slightly lower open, the Dollar and Yields are higher while Oil and Gold are lower.

And this is what UPB is reading this morning: Thursday Morning Reads

It has been a very quiet week for me.  The names I have been watching for potential entries have chopped around so far and I would much rather sit on my hands then watch premium come out of a position. Hopefully some opportunities present themselves today.

EFX reported a monster beat and raise  yesterday. The stock is soaring this morning. Think names in the sector can see a sympathy move. TRU is likely the one I may grab some calls on this morning. They report earnings on Tuesday. Like the story and think a move over $105 is coming:

ISRG opened at $840 yesterday and never looked back to close at $891. Think the great Q will help spur other med-tech names and companies who saw their procedure business being impacted by hospital shutdowns due to Covid-19.  Of course AXNX is one... ABMD is another. ABMD reports a week from today. Calls are pricey but think a melt to $370+ before earnings could push the calls up enough to cover costs. Will be eyeing some May $430/$440 strikes:

WOW finally may have found a bottom. Still holding May strikes which will need a major catalyst to come back to life. Will be looking to add some June calls, possibly $17.50s:

CMG reported a great quarter after the close yesterday. The biggest highlights is that 50% of their sales are now digital in nature and margins are at their highest in 4 years due to raising prices. The stocks is receiving some modest upgrades this morning. Think a move to $1600 or so is possible so will be watching for possible opportunities this morning:

Here are the analyst changes of note for today:

Chipotle price target raised to $1725 from $1600 at BTIG

BTIG analyst Peter Saleh raised the firm's price target on Chipotle to $1,725 from $1,600 and keeps a Buy rating on the shares. The company reported another stellar quarter that was capped off with high-teens same-store sales and the highest restaurant-level margin in over five years, the analyst tells investors in a research note. Saleh adds that the combination of "healthy" double-digit comps and higher delivery prices should drive full-year restaurant margins to their best finish since before the food safety crisis

Lam Research price target raised to $755 from $583 at KeyBanc

KeyBanc analyst Weston Twigg raised the firm's price target on Lam Research to $755 from $583 and keeps an Overweight rating on the shares. The analyst notes the company posted a big Q3 beat and Q4 raise, while also raising its full-year outlook to reflect improving demand. Lam Research now expects the second half of the year demand to be higher than the first half across all segments, driving a 2021 fab equipment demand level above $75B, Twigg adds

Anthem price target raised to $430 from $395 at Stephens

Stephens analyst Scott Fidel raised the firm's price target on Anthem to $430 from $395 and keeps an Overweight rating on the shares after the company reported Q1 results and raised its 2021 adjusted EPS outlook. Given what he sees as "clear evidence" that the balance sheet is "positioned prudently for a potential recovery in utilization," Fidel said he thinks the company's revised guidance "feels quite conservative

Chipotle price target raised to $1,800 from $1,725 at KeyBanc

KeyBanc analyst Eric Gonzalez raised the firm's price target on Chipotle to $1,800 from $1,725 and keeps an Overweight rating on the shares. The analyst notes Chipotle's Q1 report included same-store sales results that were largely in line with his estimates, coupled with better-than-expected profitability despite anticipated drags from COVID-19 related costs, elevated marketing expenses, delivery fees, and higher cost proteins. In addition, same-store sales momentum carried into early Q2 and the company expects to narrow the gap between its AUVs and its store-level margin algorithm as soon as this quarter, which was a significant upside surprise, Gonzalez contends

Electronic Arts price target raised to $170 from $165 at KeyBanc

KeyBanc analyst Tyler Parker raised the firm's price target on Electronic Arts to $170 from $165 and keeps an Overweight rating on the shares. The analyst believes EA has a strong setup over the coming year with Battlefield, the addition of Codemasters and Glu Mobile, and ongoing strength across the core sports portfolio and Apex Legends

Tenet price target raised to $71 from $58 at Credit Suisse

Credit Suisse analyst A.J. Rice raised the firm's price target on Tenet to $71 from $58 following "a strong quarter." The analyst keeps an Outperform rating on the shares.

Anthem price target raised to $725 from $382 at Credit Suisse

Credit Suisse analyst A.J. Rice raised the firm's price target on Anthem to $725 from $382 following quarterly results, saying that a good set-up for 2021 "just got better." The analyst keeps an Outperform rating on the shares

Las Vegas Sands price target raised to $69 from $58 at Credit Suisse

Credit Suisse analyst Ben Combes raised the firm's price target on Las Vegas Sands to $69 from $58 and keeps an Outperform rating on the shares following quarterly results. The analyst continues to like Las Vegas Sands at these levels, given a potential accelerating environment in Macau and Singapore, plenty of dry powder to act on new investment opportunities, and a multiple that still reflects Vegas/Macau business mix, which suggests upside

 

And here is what I am watching today: TRU, CMG, ABMD, AXNX, AXGN, WYNN, TRUP, SHW, TWLO, TTD, SPOT, LOCO, AVGO, and NOW.

Let's have a GREAT DAY!

-JB

 

Markets fell again on Tuesday,

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