Increasing access to Chipotle remains key catalyst, says Piper Jaffray
Chipotle Mexican Grill management has suggested that in its initial phase of consumer insights feedback "access" is a main point of reference, Piper Jaffray analyst Nicole Miller Regan tells investors in a research note. The analyst believes increasing access to Chipotle remains a key catalyst. She thinks Chipotle can increase access in many ways, including delivery, mobile application enhancements, rapid pick up capability, additional digital second make lines and drive-thru as well as new store growth. Access should also allow for extended reach into an even further diverse audience, says Regan. She reiterates an Overweight rating on Chipotle shares with a $550 price target. The stock remains her top recovery investment recommendation "with a high degree of conviction."