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Fly News Breaks for April 22, 2015
CMG
Apr 22, 2015 | 06:46 EDT
JPMorgan recommends buying Chipotle Mexican Grill on weakness following the company's Q1 results. The firm sees a longer term buying opportunity on short-term weakness after Chipotle reported new unit volumes up a better-than-expected 10% year-over-year, store margins up 190 basis points and outlined "numerous" sales driving initiatives. It keeps an Overweight rating on the stock with a $730 price target.
News For CMG From the Last 2 Days
CMG
Mar 26, 2024 | 07:58 EDT
Bernstein raised the firm's price target on Chipotle to $3,200 from $2,800 and keeps an Outperform rating on the shares. Citing the recent launch of Chicken Al Pastor and momentum in in-store execution, the firm believes that the fundamental setup for 2024 is stronger and updated its same-store sales growth estimate to about 7% for 2024. The firm expects that Chipotle will reach $4M in average unit volume, or AUV, in five to six years, which it notes is ahead of consensus.