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Fly News Breaks for January 17, 2019
CMG
Jan 17, 2019 | 07:51 EDT
Maxim analyst Stephen Anderson downgraded Chipotle to Hold from Buy with an unchanged price target of $510 after shares reached his price target this week. The analyst also lowers his FY19 EPS view to $12.93 from $13.14 on expectations of higher marketing expenses to help support Chipotle's launch of new menu items and digital initiatives. While Anderson still expects the company to generate "margin expansion" with renewed unit growth and share buybacks this year, he sees risks more balanced with the positives after the 34% run-up in Chipotle stock price since late December.
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.