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Fly News Breaks for October 21, 2019
CMG
Oct 21, 2019 | 09:35 EDT
Loop Capital analyst Lynne Collier raised her price target on Chipotle to $950 and kept her Buy rating ahead of its earnings tomorrow. The analyst expects the company's national launch of Carne Asada to be a "hit" and is also raising her Q3 SSS forecast to 9.5% from 7.9% while boosting her Q3 earnings view by 16c to $3.20. Collier contends that Chipotle's momentum can continue thanks to its growth in digital ordering, improving operations, and menu innovation.
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.