UPDATE: Jefferies Raises PT on Chipotle Mexican Grill on 1Q Beat
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
|Aug 2014||Longbow Research||Downgrades||Buy||Neutral|
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