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Fly News Breaks for October 17, 2018
CMG
Oct 17, 2018 | 08:02 EDT
Baird analyst David Tarantino reduced his Q3 estimates on Chipotle ahead of earnings based on a lower revised comps estimate caused by the late-July incident in Ohio that may have prevented the company from reaching his prior forecast. The analyst has a positive outlook for 2019 and beyond as he believes new leadership can fuel a multi-year stretch of stronger operating momentum. Tarantino reiterated his Outperform rating and $535 price target on Chipotle shares.
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