SO many shorts here. CMG on a recovery mode NFLX style.
•Finally, analysts at Lazard Capital upgraded CMG to "buy" from "neutral" and set a $388 price target -- a premium of 27.8% to the stock's closing price on Friday. The brokerage firm expects "a brightened economic backdrop" and "reinvigorated" same-store sales growth for CMG in 2013, and lifted its earnings-per-share estimates for the restaurant chain. However, most of the Street remains skeptical, with just five out of 22 analysts offering up "buy" or better endorsements. Meanwhile, 11.7% of the stock's float is sold short, representing nearly seven sessions' worth of pent-up buying demand, at CMG's average pace of trading.
Don't get caught up in analyst price targes - look at the AAPL analyst that have a $1,111 price target - where is AAPL now? CMG needs to report something compelling tonight or this stock is in trouble. Single digit comps with rising food costs is a recipe for disaster.