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Fly News Breaks for July 21, 2017
CMG
Jul 21, 2017 | 07:32 EDT
Argus analyst John Staszak downgraded Chipotle to Hold based on the prospects for slowing growth as he expects negative publicity from the outbreak of Norovirus to negatively impact sales, operating margins, and the current lofty valuation. As a result, the analyst lowered his 2017 earnings estimate to $8.10 from $9.00 and 2018 to $12.00 from $12.50. Longer-term, Staszak has a favorable view of Chipotle's strong brand, unit growth, and high profitability.
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