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Fly News Breaks for May 26, 2016
CMG
May 26, 2016 | 10:12 EDT
As previously reported, Cleveland Research downgraded Chipotle to Neutral from Buy. Analyst Steven Gojak said the comp and traffic recovery appear muted during the last few months due to less effective promotions and slower end market demand. Gojak sees less visibility on the comp recovery pace for the remainder of the year given the slower near-term progress and effectiveness of turnaround efforts.
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.