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CMG

Chipotle

$304.33

4.03 (1.34%)

05:36
02/07/18
02/07
05:36
02/07/18
05:36

Stifel sees Chipotle's negative traffic persisting, downgrades shares to Sell

Stifel analyst Chris O'Cull downgraded Chipotle Mexican Grill to Sell from Hold and cut his price target for the shares to $250 from $310. The stock in premarket trading is down 8%, or $23.32, to $281.01. The company's Q4 earnings missed on already low expectations, O'Cull tells investors in a research note. The analyst expects Chipotle's negative traffic to persist. The company seems to be relying on easier comparisons this summer, rather than any initiatives to reverse the trend, he contends. O'Cull believes improving traffic "could prove especially difficult" following the 5% menu price increase.

CMG Chipotle
$304.33

4.03 (1.34%)

02/01/18
02/01/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. PayPal (PYPL) downgraded to Neutral from Buy at BTIG with analyst Mark Palmer saying last night's fourth quarter results were not strong enough to justify the stock's "lofty" valuation. 2. Starbucks (SBUX) downgraded to Neutral from Buy at Mizuho with analyst Jeremy Scott saying as long as the company's U.S. comps continue to decelerate in the near-term, investors will be less willing to justify a premium valuation or shift focus to the China growth story. 3. Nvidia (NVDA) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst saying shares have had a strong run and believes long-term secular growth drivers in Datacenter are better understood and concurrency demand may lead to increased volatility. 4. Chipotle (CMG) downgraded to Sell from Neutral at UBS with analyst Dennis Geiger saying brand perceptions "remain depressed" while competition is unlikely to ease in 2018. 5. Check Point (CHKP) downgraded to Market Perform from Outperform at Wells Fargo with analyst Philip Winslow saying he is more cautious on Check Point's near-term product revenue growth following "recent execution shortfalls and increasing uncertainty regarding the competitive environment in network security." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/05/18
PIPR
02/05/18
NO CHANGE
Target $350
PIPR
Overweight
Piper says Chipotle remains 'top recovery pick' for 2018
Piper Jaffray analyst Nicole Miller Regan keeps an Overweight rating on Chipotle Mexican Grill with a $350 price target saying the stock remains a "top recovery pick" for 2018. After hosting an investor tour to visit with Chipotle's Director of France in Paris, the analyst believes structural improvements, over time, will allow Chipotle's international base to grow at a "reasonably faster pace." Regan believes the eventual CEO appointment, menu price increase and lower tax rate will serve as catalysts for the stock.
02/07/18
STFL
02/07/18
DOWNGRADE
STFL
Sell
Chipotle downgraded to Sell from Hold at Stifel
02/07/18
MZHO
02/07/18
DOWNGRADE
Target $300
MZHO
Neutral
Chipotle downgraded to Neutral from Buy at Mizuho
Mizuho analyst Jeremy Scott downgraded Chipotle to Neutral from Buy with a $300 price target. Scott believes that "time has expired" and can no longer use previous setbacks as a guide for timing of customer re-engagement. The analyst is encouraged by reorganization and the launch of the loyalty program, he is discouraged by its out-of-sequence G&A ramp, an ineffective marketing campaign, and aggressive capex plans.

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