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CMG

Chipotle

$463.33

2.79 (0.61%)

08:44
08/06/18
08/06
08:44
08/06/18
08:44

Ohio incident doesn't put Chipotle traffic at risk, says Jefferies

After analyzing digital engagement with the brand from last week and compared to the Virginia incident last July, Jefferies analyst Andy Barish does not believe the illnesses at the Ohio restaurant put Chipotle Mexican Grill's traffic trends at risk. With a free guacamole promotion "coming at a very good time" on the heels of store closure in Ohio, Chipotle app downloads and usage surged, Barish tells investors in a research note. He believes this shows the brand is not damaged as in last July's norovirus outbreak in Sterling, Virginia. Further, the analyst believes Chipotle's procedures were followed in Ohio, the number of cases was not substantiated, and the company did a better job controlling the narrative and taking action. Barish keeps a Buy rating on Chipotle shares with a $550 price target.

  • 24

    Sep

CMG Chipotle
$463.33

2.79 (0.61%)

07/31/18
07/31/18
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. Twitter (TWTR) upgraded to Neutral from Reduce at Nomura Instinet analyst Mark Kelley saying after selling off 27% since the Q2 earnings report on July 27, expectations have been appropriately reset. 2. Chipotle (CMG) upgraded to Buy from Hold at Jefferies with analyst Andy Barish saying he believes Chipotle is one of the better positioned companies to benefit from the ongoing shift to digital/off-premise. 3. Affiliated Managers (AMG) upgraded to Outperform from Market Perform at Keefe Bruyette with analyst Robert Lee saying he believes the company is positioned for "at least" modest organic growth. 4. Booz Allen (BAH) upgraded to Outperform from Market Perform at Raymond James with analyst Brian Gesuale saying the Q1 report was "stellar," beating every key metric, while the share reaction was "lukewarm." 5. Northrop Grumman (NOC) upgraded to Buy on valuation at Buckingham with analyst Richard Safran saying the sell-off following the Q2 report provides an investment opportunity telling investors Defense spending and recent program wins may not be fully reflected in consensus expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/31/18
07/31/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. JEFFERIES UPS RATING, TARGET FOR CHIPOTLE: Jefferies analyst Andy Barish upgraded Chipotle Mexican Grill (CMG) to Buy from Hold and raised his price target for the shares to $550 from $400. Barish believes Chipotle is one of the better positioned companies to benefit from the ongoing shift to digital/off-premise. The company's operations are now poised to again handle increased volume and throughput, the analyst contended. Further, he believes new management's plans are "credible" and should help drive results in 2019 and beyond. The analyst called the stock a top mid-cap pick. NOMURA UPGRADES TWITTER TO NEUTRAL: Nomura Instinet analyst Mark Kelley upgraded Twitter (TWTR) to Neutral from Reduce with an unchanged price target of $31. After selling off 27% since the Q2 earnings report on July 27, expectations have been appropriately reset, Kelley told investors. The analyst believes Twitter's investments to clean up the platform will prove a longer term positive and lead to a more engaged user base. BARCLAYS PREFERS DEERE TO CATERPILLAR: Barclays analyst Adam Seiden downgraded Caterpillar (CAT) to Equal Weight from Overweight and lowered his price target for the shares to $155 from $170. The company's largest end-markets are no longer at trough, and the analyst believes Caterpillar's second half of 2018 price initiatives, directed towards offsetting supply chain and materials cost increases, will limit its ability to expand margins. The analyst prefers shares of Deere (DE) and CNH Industrial (CNH), which he says are at similar valuations but are earlier in their market cycles. CITI SAYS SELL WISDOMTREE: Citi analyst William Katz placed a low probability on Franklin Resources (BEN) acquiring WisdomTree (WETF), and downgraded WisdomTree to Sell, lowering his price target for the shares to $7 from $10. The analyst downgraded the shares to Neutral on July 13. Katz believes WisdomTree's price-to-earnings multiple can further contract amid mixed flow dynamics and flat earnings growth prospects out to 2020. JPMORGAN SAYS GOPRO MAY SEE SHORT SQUEEZE: JPMorgan analyst Paul Coster believes "muted" expectations and elevated short-interest could position GoPro (GPRO) shares for a "short squeeze" rally after the company's Q2 results. The analyst expects the company to post an in-line quarter. GoPro must entice existing users to upgrade to a new flagship camera expected to be released in early Q4, and convert new users for a product category that "feels a bit long in the tooth now," Coster said. He lowered his price target for GoPro shares to $7 from $8 and kept a Neutral rating on GoPro.
08/01/18
WBLR
08/01/18
NO CHANGE
WBLR
Market Perform
Chipotle comp slowdown could be similar to last summer, says William Blair
William Blair analyst Sharon Zackfia believes Chipotle Mexican Grill's restaurant closure in Ohio raises the potential for a comp slowdown similar in magnitude to the one experienced in the wake of last year's mid-July norovirus outbreak in Virginia that sickened more than 135 customers. Last year's norovirus outbreak hurt comps by more than 600 basis points, with same-store sales trends slipping from 4.5% in the first half of the month of July to down 2.25% from mid-July to September 11, Zackfia tells investors in a research note. He estimates each comp point translates into roughly 14c in earnings per share in Q3. The analyst sees as much as 50c of risk to his Q3 earnings per share estimate of $2.04 "should last summer's consumer response replicate itself." Zackfia keeps a Market Perform rating on Chipotle.
08/01/18
BTIG
08/01/18
NO CHANGE
Target $515
BTIG
Buy
Chipotle's guacamole promotion should offset food safety headlines, says BTIG
BTIG analyst Peter Saleh believes the free guacamole promotion that Chipotle ran yesterday should help offset some of the negative publicity the company received following the Ohio food safety incident. The guacamole promotion was so popular that it crashed the company's digital ordering platform, leading the company to extend the promotion to today to appease any upset customers, he notes. While the analyst does not want to minimize food safety incidents given Chipotle's recent history, he believes the sales impact from these events is moderating. Saleh reiterates a Buy rating and $515 price target on the shares.

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