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Fly News Breaks for June 20, 2017
CMG
Jun 20, 2017 | 06:29 EDT
Deutsche Bank analyst Brett Levy says Chipotle Mexican Grill's costs continue to weigh on unit-level performance after management last night explained certain unit-level costs in a regulatory filing. Elevated food costs, incremental marketing spending and other operating expenses continue to weigh on restaurant-level profits, Levy tells investors in a research note. He lowered his Q2 earnings per share estimate by 20c to $2.04 and keeps a Sell rating on Chipotle.
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.