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Fly News Breaks for November 23, 2015
CMG
Nov 23, 2015 | 07:34 EDT
As previously reported, BofA/Merrill downgraded Chipotle two notches to Underperform from Buy and lowered its price target to $470 from $750 on shares. Analyst Joseph T. Buckley said the E.coli issue is creating a high level of uncertainty for the stock and the additional news on Friday that E.coli was found found in three additional states prompts the analyst to sharply reduce estimates. Buckley expects Q4 comps to be negative and lowered his Q4 same store sales estimate to down 4% from up 3% previously.
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.