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Fly News Breaks for October 18, 2016
CMG
Oct 18, 2016 | 06:19 EDT
As previously reported, Raymond James downgraded Chipotle to Underperform from Market Perform. Analyst Brian Vaccaro believes the lost sales, still down 15-20% after the initial E.coli incident, could prove to be permanent and reflect the "new normal," increasing downside risk in the stock. He believes expectations regarding Chipotle's normalized earnings are overly optimistic and support a lower valuation level. Vaccaro sees Chipotle's 2018 earnings at approximately $12 per share, versus consensus of $14-$15 per share.
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.