UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on Chipotle Mexican Grill
In a report published Friday, Deutsche Bank reiterated its Hold rating on Chipotle Mexican Grill (NYSE: CMG), and raised its price target from $290.00 to $330.00.
Deutsche Bank noted, “Back end loaded 2013 - CMG faces a challenging set up in the 1H13, likely keeping earnings growth in the high single digit range. While we expect growth to accelerate in the back half, uncertainty around the magnitude of pricing actions, ongoing commodity inflation, and valuation near the 5-yr avg (31x 2013E EPS) keeps us on the sidelines. Maintain Hold.”
Chipotle Mexican Grill closed on Thursday at $307.01.
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