<div id="readability-page-1">Chipotle Mexican Grill Inc (NYSE:CMG) stock is up 2.1% at $28.77 in premarket trading, after J.P. Morgan Securities upgraded the restaurant stock to &#34;overweight&#34; from &#34;neutral,&#34; citing an attractive valuation opportunity. The firm also trimmed its price target to $35 from $38. The bull note arrives after a brutal stretch on the charts for Chipotle stock. The shares plunged to a more than three-year low of $28.04 yesterday alongside a sixth-straight drop. CMG is down 46% over the last 12 months and roughly 13% in just the last week. Strengthening its case for a rebound, CMG sits in &#34;oversold&#34; territory, per its 14-day relative strength index (RSI) of 24.3. The majority of analysts are already bullish on CMG. Heading into today, 25 of the 35 in coverage carry a &#34;buy&#34; or better rating, with 10 &#34;holds&#34; and no sells on the books. Options traders are pricing in relatively low volatility expectations, per Chipotle's Schaeffer's Volatility Index (SVI) of 38%, which sits in the 28th percentile of its annual range. Meanwhile, the stock's Schaeffer's Volatility Scorecard (SVS) of 93 out of 100 indicates it has consistently exceeded those expectations during the past year.</div>

J.P. Morgan upgraded Chipotle (CMG) to 'overweight' from 'neutral,' citing attractive valuation after shares hit a three-year low. Despite trimming the price target to $35, the firm highlights oversold conditions and strong analyst support, with 25 of 35 ratings being 'buy' or better. CMG stock rose 2.1% in premarket trading.

Schaeffers

Chipotle Mexican Grill

JPMorgan Chase

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

Chipotle Stock Upgraded After 3-Year Lows