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UPDATE: Jefferies Raises PT on Chipotle Mexican Grill on 1Q Beat

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In a report published Friday, Jefferies analyst Andy Barish reiterated an Underperform rating on Chipotle Mexican Grill (NYSE: CMG), and raised the price target from $250.00 to $265.00.

In the report, Barish noted, “EPS $2.45 on only 1% SSS, as ~$0.30 of lower G&A/tax saves drove beat to consensus $2.13. Stock should be up but we see little improvement in key operating metrics; with no real SSS drivers, we think restaurant-level margins will be flattish at best. Our ‘13/14 EPS up to $10.18/11.97 (beat/lower G&A), but at a current multiple of ~30x '14E EPS, we still think CMG is being overvalued for decelerating growth.”

Chipotle Mexican Grill closed on Thursday at $328.36.

Latest Ratings for CMG

DateFirmActionFromTo
Sep 2014OppenheimerMaintainsOutperform
Aug 2014Longbow ResearchDowngradesBuyNeutral
Jul 2014CitigroupMaintainsBuy

View More Analyst Ratings for CMG
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Analyst Ratings

 

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