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UPDATE: Jefferies Raises PT on Chipotle Mexican Grill on Challenging Consumer Environment

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In a report published Tuesday, Jefferies analyst Andy Barish reiterated a Hold rating on Chipotle Mexican Grill (NYSE: CMG), and raised the price target from $400.00 to $410.00.

In the report, Jefferies noted, “Restaurant valuations have proven resilient this year, and despite soft 1H SSS & an even tougher summer, stocks are still trading at peak multiples. SSS compares do ease, but the consumer environment remains challenged and broadly speaking, we see downside risk to 3Q earnings. We continue to prefer companies with visible sales drivers & margin drivers. Favorite names: SBUX, DNKN, BLMN, JACK, FRGI, RUTH. Cautious on: YUM, casual dining.”

Chipotle Mexican Grill closed on Monday at $428.80.

Latest Ratings for CMG

DateFirmActionFromTo
Nov 2016GuggenheimDowngradesNeutralSell
Oct 2016Goldman SachsMaintainsNeutral
Oct 2016Credit SuisseDowngradesOutperformNeutral

View More Analyst Ratings for CMG
View the Latest Analyst Ratings

Posted-In: Andy Barish JefferiesAnalyst Color Price Target Analyst Ratings

 

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