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Fly News Breaks for June 19, 2019
CMG
Jun 19, 2019 | 06:06 EDT
Following her May channel checks and operator conversations, Piper Jaffray analyst Nicole Miller Regan is "incrementally encouraged" by Chipotle Mexican Grill's execution against its stated operational, digital, and delivery initiatives. The checks highlight the brand's efficient use of social media advertising and continued focus on executing delivery orders within 30 minutes, Regan tells investors in a research note. The analyst is maintaining her Q2 same-store sales estimate of up 8% and keeps an Overweight rating on Chipotle shares with a $783 price target.
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.