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CMG

Chipotle

$659.53

-18.52 (-2.73%)

08:44
06/03/19
06/03
08:44
06/03/19
08:44

Chipotle could raise burrito prices by around 5c to cover tariffs, Reuters says

Chipotle Mexican Grill could raise burrito prices by around 5c for customers in a move to cover the cost of President Donald Trump's proposed tariffs on Mexican imports, Reuters' reports, citing an emailed statement from CFO Jack Hartung. In the email, Hartung said costs could go up by about $15M in 2019 and reduce its margins by 20-30 basis points if the tariffs suggested by Trump are enacted. Reference Link

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CMG Chipotle
$659.53

-18.52 (-2.73%)

05/23/19
BMOC
05/23/19
DOWNGRADE
Target $620
BMOC
Underperform
Chipotle downgraded to Underperform from Market Perform at BMO Capital
BMO Capital analyst Andrew Strelzik downgraded Chipotle Mexican Grill to Underperform from Market Perform and lowered his price target for the shares to $620 from $675. The stock closed yesterday down $9.43 to $706.04. African Swine Fever will likely create a "meaningful, multi-year upswing" in protein prices, and Chipotle is among the restaurants most at risk, Strelzik tells investors in a research note. The company could begin to recognize stronger protein inflation as early as Q3 of this year, says the analyst. He believes margin pressure from African Swine Fever creates downside risk to earnings for Chipotle. Strelzik's 2020 earnings estimates for the company are nearly 10% below consensus.
05/23/19
BMOC
05/23/19
DOWNGRADE
Target $18
BMOC
Underperform
Bloomin' Brands downgraded to Underperform from Market Perform at BMO Capital
BMO Capital analyst Andrew Strelzik downgraded Bloomin' Brands (BLMN) to Underperform from Market Perform and lowered his price target for the shares to $18 from $23. African Swine Fever will likely create a "meaningful, multi-year upswing" in protein prices, and Bloomin' is among the restaurants most at risk, Strelzik tells investors in a research note. He believes margin pressure from African Swine Fever creates downside risk to earnings and notes that his 2020 earnings estimates for the company are nearly 10% below consensus. Strelzik also downgraded Chipotle Mexican Grill (CMG) to Underperform this morning for a similar rationale.
05/23/19
05/23/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Qualcomm (QCOM) downgraded to Neutral from Buy at Mizuho with analyst Vijay Rakesh saying he is moving to the sidelines given the "uncertainty" with Judge Koh's Federal Trade Commission ruling on Qualcomm. 2. Chipotle (CMG) and Bloomin' Brands (BLMN) downgraded to Underperform from Market Perform at BMO Capital. 3. Sasol (SSL) downgraded to Neutral from Buy at Citi and to Neutral from Overweight at JPMorgan. 4. Expedia (EXPE) downgraded to Neutral from Buy at Citi with analyst Mark May saying Vrbo's growth has "disappointed and slowed meaningfully," and this could weight on Expedia's overall growth. 5. NetApp (NTAP) downgraded to Buy from Conviction Buy at Goldman Sachs and to Hold from Buy at Lake Street. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/23/19
BARD
05/23/19
NO CHANGE
BARD
Texas Roadhouse, Chipotle pullbacks an opportunity to buy, says Baird
Baird analyst David Tarantino said he would be a buyer of shares of Texas Roadhouse (TXRH) and Chipotle (CMG) amid today's weakness, which he attributes to concerns about the potential for rising protein prices tied to the African swine fever outbreak in China. While a rise in certain protein prices would pose a near-term headwind, he is not ready to conclude that this will be a material issue for either, Tarantino tells investors. In his defense, the analyst highlighted that Texas Roadhouse has locked its pork prices through end of 2019 and that Chipotle uses a naturally raised grade of pork with dedicated suppliers, adding that beef prices are much more important to each of them than pork. Even if food costs were to escalate in the near term, he would view it as transitory and something that should not affect their value on a longer-term basis, added Tarantino.

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COP

ConocoPhillips

$53.99

-0.55 (-1.01%)

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AMZN

Amazon.com

$1,757.77

-30.07 (-1.68%)

, NFLX

Netflix

$275.40

-17.88 (-6.10%)

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AMZN

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NFLX

Netflix

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CMCSK

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$0.00

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CMCSA

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$38.46

0.64 (1.69%)

DIS

Disney

$130.91

-1.46 (-1.10%)

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AKS

AK Steel

$2.45

0.055 (2.30%)

, MT

ArcelorMittal

$14.58

0.03 (0.21%)

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On The Fly
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AKS

AK Steel

$2.45

0.055 (2.30%)

MT

ArcelorMittal

$14.58

0.03 (0.21%)

NUE

Nucor

$51.69

-0.11 (-0.21%)

STLD

Steel Dynamics

$28.71

-0.04 (-0.14%)

TMST

TimkenSteel

$5.42

-0.015 (-0.28%)

X

U.S. Steel

$10.72

0.1 (0.94%)

GM

General Motors

$36.19

-0.01 (-0.03%)

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AAVMY

ABN Amro

$0.00

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, BBVA

Banco Bilbao

$5.38

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Conference/Events
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BBVA

Banco Bilbao

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BCS

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BLK

BlackRock

$445.26

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BNPQY

BNP Paribas

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C

Citi

$69.76

0.16 (0.23%)

CAIXY

CaixaBank

$0.00

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CIB

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CS

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EV

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Goldman Sachs

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HSBC

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MA

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MS

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NYT

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PYPL

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RBS

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RY

Royal Bank of Canada

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SMFG

Sumitomo Mitsui

$6.87

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SPGI

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State Street

$63.40

3.69 (6.18%)

UBS

UBS

$11.35

0.09 (0.80%)

V

Visa

$175.83

-2.11 (-1.19%)

ZURVY

Zurich Insurance

$0.00

(0.00%)

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STT

State Street

$63.40

3.69 (6.18%)

20:09
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Upgrade
State Street rating change at Keefe Bruyette »

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SUN

Sunoco

$32.43

0.32 (1.00%)

19:53
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Upgrade
Sunoco rating change at BMO Capital »

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TLF

Tandy Leather

$4.61

(0.00%)

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Tandy Leather CFO Castillo to step down »

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TLF

Tandy Leather

$4.61

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AAPL

Apple

$236.29

0.99 (0.42%)

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JPM

JPMorgan

$120.60

0.21 (0.17%)

, FB

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JPMorgan CEO says Libra 'a neat idea that will never happen,' Reuters says »

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JPM

JPMorgan

$120.60

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FB

Facebook

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PYPL

PayPal

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MA

MasterCard

$270.90

-5.74 (-2.07%)

V

Visa

$175.83

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EBAY

eBay

$38.82

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BKNG

Booking Holdings

$2,012.20

-16.43 (-0.81%)

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GLD

SPDR Gold Shares

$140.47

-0.13 (-0.09%)

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SPDR Gold Shares holdings rise to 924.64MT from 918.19MT »

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TECK

Teck Resources

$16.48

0.11 (0.67%)

17:43
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Hot Stocks
Teck Resources gets approval for stock buyback for up to 40M class B shares »

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OSK

Oshkosh

$77.22

0.46 (0.60%)

17:41
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Hot Stocks
Oshkosh awarded $159.14M Army contract for medium tactical vehicle production »

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OVLY

Oak Valley Bancorp

$16.40

-0.16 (-0.97%)

17:35
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10/18
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Earnings
Oak Valley Bancorp reports Q3 EPS 40c vs. 37c last year »

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FTNW

FTE Networks

$0.79

-0.0185 (-2.29%)

17:21
10/18/19
10/18
17:21
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17:21
Hot Stocks
FTE Networks receives noncompliance notice from NYSE American »

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TNXP

Tonix Pharmaceuticals

$0.45

0.0048 (1.07%)

17:12
10/18/19
10/18
17:12
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17:12
Syndicate
Breaking Syndicate news story on Tonix Pharmaceuticals »

Tonix Pharmaceuticals…

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RLMD

Relmada Therapeutics

$20.18

1.07 (5.60%)

17:10
10/18/19
10/18
17:10
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17:10
Syndicate
Breaking Syndicate news story on Relmada Therapeutics »

Relmada Therapeutics…

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16:55
10/18/19
10/18
16:55
10/18/19
16:55
General news
Breaking General news story  »

Dallas Federal Reserve…

NWSA

News Corp.

$13.48

-0.19 (-1.39%)

, NWS

News Corp

$13.79

-0.11 (-0.79%)

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Periodicals
Facebook reaches pact with News Corp., others for news section, WSJ says »

News Corp. (NWSA) has…

NWSA

News Corp.

$13.48

-0.19 (-1.39%)

NWS

News Corp

$13.79

-0.11 (-0.79%)

FB

Facebook

$185.96

-4.435 (-2.33%)

NYT

New York Times

$29.76

0.21 (0.71%)

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WAIR

Wesco Aircraft

$11.01

0.01 (0.09%)

16:46
10/18/19
10/18
16:46
10/18/19
16:46
Conference/Events
Wesco Aircraft to host special shareholder meeting »

Special Shareholder…

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  • 24

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FOMX

Foamix

$3.15

-0.09 (-2.78%)

16:41
10/18/19
10/18
16:41
10/18/19
16:41
Hot Stocks
Breaking Hot Stocks news story on Foamix »

Foamix up 7.5% at $3.35…

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