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Fly News Breaks for August 24, 2015
CMG
Aug 24, 2015 | 09:03 EDT
Wedbush increased its price target on Chipotle Mexican Grill shares to $740 from $620 after its checks indicated same-store sales growth reacceleration thus far in Q3, with a widespread "buy one, get one" free coupon mailer and online promo attributed as the primary driver. The firm increased its Q3 comp growth estimate to 3.5% from 2.5% and raised its FY15 EPS estimate accordingly, but maintains its Neutral rating on Chipotle shares, as it believes current 2015 and 2016 estimates appropriately reflect its fundamentals.
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