Chagee (NASDAQ:CHA) Raised to “Overweight” at JPMorgan Chase & Co.

Chagee (NASDAQ:CHA) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm presently has a $16.00 price objective on the stock, up from their previous price objective of $11.50. JPMorgan Chase & Co.‘s target price points to a potential upside of 58.57% from the company’s current price.

CHA has been the subject of several other reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Chagee in a research report on Friday, March 27th. Wall Street Zen upgraded Chagee from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Jefferies Financial Group initiated coverage on shares of Chagee in a report on Wednesday, January 7th. They set a “hold” rating and a $14.00 target price for the company. Finally, Zacks Research cut shares of Chagee from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Chagee currently has a consensus rating of “Hold” and a consensus target price of $30.31.

Chagee Price Performance

Shares of CHA stock opened at $10.09 on Thursday. Chagee has a 52-week low of $8.98 and a 52-week high of $41.80. The stock has a market cap of $1.85 billion and a PE ratio of 11.21. The business has a 50-day simple moving average of $10.71 and a 200-day simple moving average of $13.27.

Hedge Funds Weigh In On Chagee

A number of hedge funds have recently bought and sold shares of the business. Fosun International Ltd grew its holdings in Chagee by 19,295.0% in the fourth quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock valued at $86,610,000 after purchasing an additional 7,408,691 shares during the period. Schroder Investment Management Group acquired a new position in shares of Chagee during the 3rd quarter worth approximately $46,150,000. UBS Group AG lifted its position in shares of Chagee by 212.5% during the 3rd quarter. UBS Group AG now owns 984,755 shares of the company’s stock valued at $16,298,000 after buying an additional 669,583 shares in the last quarter. Marshall Wace LLP acquired a new stake in Chagee in the 2nd quarter valued at $13,764,000. Finally, Jane Street Group LLC grew its stake in Chagee by 2,237.0% in the 4th quarter. Jane Street Group LLC now owns 439,640 shares of the company’s stock valued at $5,113,000 after acquiring an additional 420,828 shares during the period.

About Chagee

Our Mission With every cup of our tea, we aspire to foster a global connection of people and cultures. Our Vision To modernize the tea-drinking experience through technology and innovation. Our Core Values “Customer First” is the foundational philosophy of how we make decisions and run our business. “Caring for Partners” is the core value that defines how we interact with consumers, franchise partners, suppliers, and employees. “Quality, Health, and Convenience” is the guiding principle of how we make our products.