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Fly News Breaks for July 22, 2016
CMG
Jul 22, 2016 | 07:32 EDT
Wells Fargo says that the comments and guidance made by Chipotle on its Q2 earnings call had many more positive aspects than negative aspects. The firm says the company presented evidence that its same-store sales and traffic recovery efforts "are gaining traction." Wells also saw evidence indicating that there will be no additional downward revisions in EPS estimates for Chipotle, and it's upbeat about the company's decision to look to open new stores. Wells keeps an Outperform rating on the shares.
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