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CMG

Chipotle

$458.71

7.62 (1.69%)

16:01
06/19/17
06/19
16:01
06/19/17
16:01

Chipotle reaffirming, clarifying guidance for Q2

In a regulatory filing, Chipotle Mexican Grill reported that it is meeting today with a group of investors and will "reaffirm and clarify" its guidance for certain financial and operating results for the second quarter and full year of 2017 as announced in the company's quarterly earnings conference call on April 25. For Q2, Chipotle continues to expect food costs to be approximately 34.2% of sales, and marketing and promotion costs to be up approximately 20 to 30 basis points versus the first quarter of 2017 to 3.6%-3.7% of sales. "As a result, we expect other operating costs as a percentage of sales for the second quarter to be at or slightly higher than reported for the first quarter," the company said.

CMG Chipotle
$458.71

7.62 (1.69%)

05/25/17
ARGS
05/25/17
UPGRADE
Target $550
ARGS
Buy
Chipotle upgraded to Buy with $550 price target at Argus
Argus analyst John Staszak upgraded Chipotle Mexican Grill to Buy from Hold with a $550 price target. The restaurant chain closed yesterday up $3.80 to $478.80. The analyst expects Chipotle to post above-peer-average growth over the next several quarters due to its new marketing initiatives, differentiated menu and unit expansion plans. Further, Staszak sees fast-casual restaurants like Chipotle growing faster than the overall restaurant industry. He points out that Chipotle posted a strong recovery in both comp sales and earnings in Q1.
05/25/17
05/25/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Chipotle (CMG) upgraded to Buy from Hold at Argus with analyst John Staszak saying he expects Chipotle to post above-peer-average growth over the next several quarters due to its new marketing initiatives, differentiated menu and unit expansion plans. Further, Staszak sees fast-casual restaurants like Chipotle growing faster than the overall restaurant industry. He points out that Chipotle posted a strong recovery in both comp sales and earnings in the first quarter. 2. Alliance Data (ADS) upgraded to Neutral from Sell at Compass Point. 3. PVH Corp. (PVH) upgraded to Overweight from Neutral at JPMorgan with analyst Matthew Boss citing the company's first quarter results. The beat and raise story in retail is a rarity, Boss tells investors in a research note. He sees increased visibility to a "sustainable double-digit bottom-line profile" over the longer term. 4. Marathon Petroleum (MPC) and Phillips 66 (PSX) were assumed with an Overweight from Neutral at Piper Jaffray. 5. Alexion (ALXN) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Matthew Harrison saying he believes investors are overlooking ALXN1210 upside potential, are too negative on Solris and believes new Chief Executive Officer Ludwig Hantson is making progress on refocusing efforts and right sizing the company. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/08/17
MZHO
06/08/17
INITIATION
Target $533
MZHO
Buy
Chipotle initiated with a Buy at Mizuho
Mizuho initiated Chipotle with a Buy and a $533 price target.
06/08/17
MZHO
06/08/17
INITIATION
MZHO
Buy
Chipotle initiated with a Buy at Mizuho
Mizuho analyst Chipotle with a Buy rating and a $533 price target, citing upside opportunity during Chipotle's recovery from its major incident.

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