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Fly News Breaks for April 27, 2016
CMG
Apr 27, 2016 | 07:31 EDT
Wells Fargo notes that Chipotle's comp sales growth for the first three weeks of April came in at down 26%, below its outlook of down 22%-23%. The firm is "frustrated" by this development, but it still expects the company's same-store sales to recover. The firm thinks the stock could be range bound in the $400-$450 range for the next couple of months. It keeps an Outperform rating on the shares.
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.