Why Chipotle Mexican Grill, Inc. (CMG), Fitbit Inc (FIT) and Infosys Ltd ADR (INFY) Are 3 of Today’s Best Stocks

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Stocks finished slightly lower ahead of what could be an eventful weekend for global investors. Oil producers are scheduled to meet in Doha with some market observers hoping for clarity on output reductions while there is a chance Brazil’s lower congressional body could vote to impeach President Dilma Rousseff on Sunday.

Why Chipotle Mexican Grill, Inc. (CMG), Fitbit Inc (FIT) and Infosys Ltd ADR (INFY) Are 3 of Today's Best StocksWith all that and more, the S&P 500 fell 0.1% while the Dow Jones Industrial Average and the Nasdaq Composite each lost 0.16%.

Although stocks ended the week in basically flat fashion, Chipotle Mexican Grill, Inc. (NYSE:CMG), Fitbit Inc (NYSE:FIT) and Infosys Ltd ADR (NYSE:INFY) found their way to best stocks of the day status.

Chipotle Mexican Grill, Inc. (CMG)

Shares of Chipotle Mexican Grill, the operator of fast-casual restaurants once known for serving up healthy Mexican fare, rose 3% a day after JPMorgan upgraded the stock to “overweight” from “neutral.” CMG shares have lost nearly a third of their value over the past year as the company has dealt with E. coli and norovirus issues that affected multiple CMG locations across the U.S.

JPMorgan acknowledged those problems could cost CMG three years of earnings growth, but the bank added CMG has an important brand and can regain customers’ trust over time.

Piper Jaffray also waxed bullish on CMG with an “overweight” rating and a $590 price target, implying significant upside from current levels.

Fitbit Inc (FIT)

Shares of Fitbit climbed 5.3% on heavy volume after Morgan Stanley said the stock is one to own ahead of FIT’s first-quarter earnings report. The bank expects FIT, which makes wearable fitness trackers, to post stronger-than-expected first-quarter results.

“Fitbit is well-positioned with its dominant share in fitness trackers, strong brand, and over time the network effect especially as it builds out its software and services,” according to part of a Morgan Stanley note posted by MarketWatch.

Infosys Ltd ADR (INFY)

Infosys, the Indian outsourcing firm, saw its U.S.-listed shares surge 8.4% on volume that was more than triple the daily average after the company forecast better-than-expected revenue growth for its current fiscal year.

INFY forecast sales growth of 11.8% to 13.8% for the fiscal year ending in March, topping the 10.5% to 12.5% growth analysts expect. INFY said its fourth-quarter earnings rose 16% to $540 million while sales increased 23%.

INFY said several new contract wins helped boost earnings and revenue last quarter even as some rivals are seeing slack growth.

At the time of this writing, Todd Shriber did own any of the aforementioned securities.

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Todd Shriber has been an InvestorPlace contributor since 2014.


Article printed from InvestorPlace Media, https://investorplace.com/2016/04/chipotle-mexican-grill-inc-cmg-fitbit-inc-fit-infosys-ltd-adr-infy-3-todays-best-stocks/.

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