Market Overview

UPDATE: Sterne Agee Initiates Chipotle Mexican Grill at Buy on Compelling Unit Growth Story

Share:
Related CMG
Consumers Rejoice As Chipotle Confirms Return Of Carnitas
Look Out For The Restaurant Industry, Deutsche Bank Says
Cracker Barrel Eyes Tasty Earnings As Other Stocks Sag (Investor's Business Daily)

In a report published Wednesday, Sterne Agee analyst Lynne Collier initiated coverage on Chipotle Mexican Grill (NYSE: CMG) with a Buy rating and $429.00 price target.

In the report, Sterne Agee noted, “We are initiating coverage of CMG with a BUY rating and $429 price target, implying ~20% upside. Arguably, CMG has created one the best operating models in the industry's history. Market share gains should continue as Chipotle provides the perfect recipe: convenience, quality, customization & value. We find the unit growth story compelling with the ability to more than double the current store base. Given this model, we project that EPS growth of 20%+ is achievable over the next 3-5 years.”

Chipotle Mexican Grill closed on Tuesday at $358.96.

Latest Ratings for CMG

DateFirmActionFromTo
May 2015Deutsche BankInitiates Coverage onHold
May 2015Miller TabekUpgradesHoldBuy
May 2015BMO CapitalUpgradesMarket PerformOutperform

View More Analyst Ratings for CMG
View the Latest Analyst Ratings

Posted-In: Lynne Collier Sterne AgeeAnalyst Color Initiation Analyst Ratings

 

Related Articles (CMG)

Around the Web, We're Loving...