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CMG

Chipotle

$304.33

4.03 (1.34%)

07:13
02/07/18
02/07
07:13
02/07/18
07:13

Technical Take: Chipotle falls sharply after earnings, analyst action

At time of writing in the pre-market, the stock was down 8% to $280 following earnings news last night after the close. At current price next support is at $274.52 and then at the $270 area. The 52-week low is at $263. As previously reported, Stifel downgraded the stock to Sell and sharply reduced its price target from $350 down to $210. Deutsche Bank cut its price target from $290 down to $235. Mizuho changed its recommendation to Neutral. Stephens trimmed its price target from $300 to $285.

CMG Chipotle
$304.33

4.03 (1.34%)

02/07/18
SPHN
02/07/18
NO CHANGE
Target $285
SPHN
Equal Weight
Chipotle valuation 'increasingly concerning' given recovery pace, says Stephens
Stephens analyst Will Slabaugh lowered his price target on Chipotle shares to $285 from $300 following the company's Q4 report, noting that its sales result represent a slowing of intra-quarter trends, which he attributes to continued negative publicity around food illnesses and a relatively mild traffic lift from the launch of queso. Slabaugh maintains his Equal Weight rating on the shares, stating that he is "increasingly" concerned about valuation given traffic trends and the pace of recovery.
02/07/18
DBAB
02/07/18
NO CHANGE
Target $235
DBAB
Sell
Chipotle price target lowered to $235 from $290 at Deutsche Bank
Deutsche Bank analyst Brett Levy cut his price target for Chipotle Mexican Grill shares to $235 following last night's Q4 results. In a research note titled "Chipping Away At Issues, Chopping Down Earnings," the analyst keeps a Sell rating on the shares. While the quarter was relatively in-line with expectations, the investment community will likely be more focused on the "apparent lack of a true and still hoped for" sales recovery, the level of incremental spending and a more modest-than-expected tax reform benefit, Levy writes. The analyst remains cautious on Chipotle citing "sluggish" fundamentals and strategic uncertainty.
02/07/18
STFL
02/07/18
DOWNGRADE
Target $250
STFL
Sell
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.
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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