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Fly News Breaks for May 25, 2017
CMG
May 25, 2017 | 07:40 EDT
Argus analyst John Staszak upgraded Chipotle Mexican Grill to Buy from Hold with a $550 price target. The restaurant chain closed yesterday up $3.80 to $478.80. The analyst expects Chipotle to post above-peer-average growth over the next several quarters due to its new marketing initiatives, differentiated menu and unit expansion plans. Further, Staszak sees fast-casual restaurants like Chipotle growing faster than the overall restaurant industry. He points out that Chipotle posted a strong recovery in both comp sales and earnings in Q1.
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