Chipotle, Wingstop winning pandemic, Barron's says » 09:4507/0407/04/20
WING, CMG, PZZA, DPZ
For the stock market in…
For the stock market in general, and the restaurant group in particular, share prices have held up well, considering the recent hit to profits, Jack Hough writes in this week's edition of Barron's. While performance varies wildly among individual names, the entire group is being pulled higher by Domino's Pizza (DPZ), Papa John's (PZZA), Chipotle (CMG) and Wingstop (WING), the author notes. Reference Link
Chipotle's GrubHub deal should drive SSS growth in 2H, says Northcoast » 09:2107/0107/01/20
Northcoast analyst Jim…
Northcoast analyst Jim Sanderson believes Chipotle's (CMG) addition of GrubHub (GRUB) as a third party delivery partner could add 2%-3% of same-store sales growth as consumers become aware of the new relationship. However, the analyst is also concerned that protests and curfews around the country disrupted in early June, reflected in the firm's most recent digital monitor. Sanderson believes GrubHub should improve Chipotle's digital sales barring unforeseen instances of civil unrest or other unknowns and maintains a Neutral rating.
Chipotle announces Chipotle Virtual Farmers' Market powered by Shopify » 08:0506/3006/30/20
Chipotle Mexican Grill…
Chipotle Mexican Grill (CMG) announced the Chipotle Virtual Farmers' Market, powered by Shopify (SHOP), that will allow farmers in the Chipotle supply chain to launch improved versions of their own eCommerce websites. Through individualized online marketplaces, Chipotle suppliers will be able to sell meat, dairy and grain products, and other items directly to consumers across the country. As a digital innovator known for seeking long-term solutions, Chipotle is assisting in the development of each supplier's site, covering hosting fees on Shopify for two years and supporting the design and development of the direct-to-consumer storefronts.
Chipotle price target raised to $1200 from $1010 at BTIG » 08:5506/2906/29/20
BTIG analyst Peter Saleh…
BTIG analyst Peter Saleh raised the firm's price target on Chipotle to $1,200 from $1,010 and keeps a Buy rating on the shares. The management is positioning the company to emerge from the current downturn stronger, with more units, upgraded assets and lower fixed costs, the analyst tells investors in a research note. Saleh adds that sales volatility over the past few months makes it challenging to predict earnings, but he believes that investors should focus their attention on Chipotle's growth levers that include new menu innovation and digital engagement.
Chipotle announces partnership with GrubHub to expand delivery footprint » 08:1206/2906/29/20
Chipotle (CMG) announced…
Chipotle (CMG) announced that it is partnering with Grubhub (GRUB) to expand its delivery footprint in the U.S. Chipotle and Grubhub have established a fully-integrated partnership to provide operations and a diner experience, ensuring food arrives "as fresh and fast as possible." Available now, customers can order from Chipotle locations through the Grubhub app or Grubhub.com. Digital orders from Chipotle are customized via the brand's Digital Kitchens, which are comprised of a dedicated ingredient station and operated by a special team in nearly all Chipotle locations. Chipotle deliveries also feature a tamper evident packaging seal to help ensure food is untouched during delivery. Grubhub users will also default into contact-free delivery, which allows diners to request their food be left in the lobby or at the doorstep.
|Over a week ago|
Chipotle price target raised to $1,020 from $845 at JPMorgan » 07:4606/2406/24/20
JPMorgan analyst John…
JPMorgan analyst John Ivankoe raised the firm's price target on Chipotle Mexican Grill to $1,020 from $845 and keeps a Neutral rating on the shares. Following late-quarter update calls with companies, the analyst rolled over price targets from December 2020 to December 2021.
Chipotle expands digital platform, launches app in Canada » 08:0906/1706/17/20
Chipotle introduced a…
Chipotle introduced a series of innovations to its digital platform to increase access and convenience for guests, including the introduction of the Chipotle app in Canada. Chipotle is introducing a series of enhancements to its mobile ordering capabilities. Beginning June 22, customers can order on Messenger. Orders will be created for mobile pickup or delivery. Chipotle will also be leveraging the Chipotle app and Chipotle.com as a donation platform.
Chipotle comp trends improved over past month, says Cleveland Research » 09:3506/0806/08/20
Cleveland Research analyst Steven Gojack says industry research indicates Chipotle Mexican Grill's comps improved over the last month supported by its digital efforts, delivery, and in-store execution. The analyst models a Q2 comp of down 10% versus the consensus of down 14.7%. Chipotle's comp trends continued to recovery in May with expectations for further improvement in June, Gojack tells investors in a research note. He believes Chipotle is positioned to be a share winner coming out of COVID-19 and keeps a Buy rating on the shares.
|Over a month ago|
Chipotle price target raised to $1160 from $950 at Cowen » 07:3706/0306/03/20
Cowen analyst Andrew…
Cowen analyst Andrew Charles raised the firm's price target on Chipotle to $1160 from $950 and keeps an Outperform rating on the shares. The analyst said it remains a top pick and raised his target based on the company's digital trajectory and optimism surrounding digital at their recent conference.
Chipotle plans to speed up store growth 13:2206/0206/02/20