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CMG

Chipotle

09:10
06/20/17
06/20
09:10
06/20/17
09:10

Chipotle price target lowered to $480 from $510 at Nomura Instinet

Nomura Instinet analyst Mark Kalinowski lowered Chipotle's price target to $480 from $510 following management commentary that indicates margin pressure in Q2. Management now expects Q2 other operating costs to be higher than in Q1, contributing to the analyst's reduction in 2017 earnings estimate to $8.30 from $8.75, and 2018 earnings estimate to $12 from $12.75. Kalinowski rates Chipotle an Equal Weight.

CMG Chipotle

06/20/17
PIPR
06/20/17
NO CHANGE
Target $530
PIPR
Overweight
Piper reiterates Overweight rating, $530 target on Chipotle
Piper Jaffray analyst Nicole Miller Regan reiterates an Overweight rating on Chipotle Mexican Grill with a $530 price target after the company reaffirmed its prior FY17 guidance and clarified expectations around Q2 marketing and promotion spend. The model adjustment for Q2 is "relatively minor" and a series of "steady quarterly improvements" remains the next catalyst for the shares, Regan tells investors in a research note. She continues to recommend patience with regards to owning Chipotle shares.
06/20/17
DBAB
06/20/17
NO CHANGE
Target $300
DBAB
Sell
Chipotle margin recovery remains under pressure,' says Deutsche Bank
Deutsche Bank analyst Brett Levy says Chipotle Mexican Grill's costs continue to weigh on unit-level performance after management last night explained certain unit-level costs in a regulatory filing. Elevated food costs, incremental marketing spending and other operating expenses continue to weigh on restaurant-level profits, Levy tells investors in a research note. He lowered his Q2 earnings per share estimate by 20c to $2.04 and keeps a Sell rating on Chipotle.
06/20/17
FBCO
06/20/17
NO CHANGE
Target $425
FBCO
Neutral
Chipotle estimates lowered at Credit Suisse after guidance
Credit Suisse analyst Jason West noted that Chipotle's updated guidance on Q2 food costs and other operating expenses was unfavorable and he cut his Q2 earnings forecast to well-below consensus at $2.00 per share. West maintains his Neutral rating and $425 price target on Chipotle shares.
06/20/17
MAXM
06/20/17
NO CHANGE
Target $440
MAXM
Hold
Chipotle estimates reduced after cost comments at Maxim
Maxim analyst Stephen Anderson noted that Chipotle management alluded to higher costs incurred during the quarter in commentary released ahead of the company's planned presentations at investor conferences this week. Given the new guidance, Anderson lowered his earnings estimate for Q2, though he maintains his expectations for a double-digit comparable sales increase. The analyst keeps a Hold rating and $440 price target on Chipotle shares.

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