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Fly News Breaks for July 26, 2017
CMG
Jul 26, 2017 | 08:46 EDT
Bernstein analyst Sara H. Senatore says that Chipotle's comp sales growth can reach low single digit percentage levels in 2H17, driven by its launch of queso, effective marketing and "strategic" price changes. The analyst says that the company's comp sales growth can subsequently reach high single digits. She thinks that the impact from the latest nonovirus outbreak will diminish as media coverage of it fades. Senatore expects the company's margins to continue to beat expectations, and she keeps a $564 price target and an Outperform rating on the stock.
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.