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Fly News Breaks for January 11, 2017
CMG
Jan 11, 2017 | 08:18 EDT
Maxim analyst Stephen Anderson noted that after pre-announcing a 4.8% comparable sales decline in Q4, Chipotle management noted that comps turned positive in December. However, he argues the "two-year stacked" comp for this December and last is consistent with a comp trends in the negative high teens and he still has concerns about the company's ability to reach its 2017 guidance. Anderson keeps his Sell rating and $280 price target on Chipotle shares.
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