Information Provided By:
Fly News Breaks for May 23, 2019
CMG
May 23, 2019 | 05:02 EDT
BMO Capital analyst Andrew Strelzik downgraded Chipotle Mexican Grill to Underperform from Market Perform and lowered his price target for the shares to $620 from $675. The stock closed yesterday down $9.43 to $706.04. African Swine Fever will likely create a "meaningful, multi-year upswing" in protein prices, and Chipotle is among the restaurants most at risk, Strelzik tells investors in a research note. The company could begin to recognize stronger protein inflation as early as Q3 of this year, says the analyst. He believes margin pressure from African Swine Fever creates downside risk to earnings for Chipotle. Strelzik's 2020 earnings estimates for the company are nearly 10% below consensus.
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.