Chagee (NASDAQ:CHA) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Chagee (NASDAQ:CHA) from a neutral rating to an overweight rating in a research report sent to investors on Thursday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $16.00 price objective on the stock, up from their previous price objective of $11.50.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Chagee from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chagee in a research report on Friday, March 27th. Zacks Research downgraded shares of Chagee from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 31st. Finally, Jefferies Financial Group assumed coverage on Chagee in a report on Wednesday, January 7th. They issued a “hold” rating and a $14.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.31.

Chagee Stock Performance

Shares of CHA opened at $10.09 on Thursday. The firm has a fifty day moving average price of $10.71 and a 200-day moving average price of $13.25. The firm has a market capitalization of $1.85 billion and a P/E ratio of 11.21. Chagee has a 12-month low of $8.98 and a 12-month high of $41.80.

Institutional Investors Weigh In On Chagee

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC purchased a new stake in shares of Chagee in the 2nd quarter worth approximately $232,000. JPMorgan Chase & Co. purchased a new position in Chagee during the second quarter valued at approximately $26,000. Russell Investments Group Ltd. bought a new position in Chagee in the second quarter worth approximately $1,226,000. Norges Bank purchased a new stake in Chagee during the second quarter worth $5,050,000. Finally, Walleye Capital LLC bought a new stake in Chagee during the 2nd quarter valued at $587,000.

Chagee Company Profile

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.