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Chipotle Opens Up; Analyst Says Street Comp View Too Low

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Chipotle Mexican Grill (NYSE: CMG) opened sharply higher Thursday after Cleveland Research said it expects restaurant chain same-store sales growth to accelerate in the wake of menu price hikes.

Cleveland's Steve Gojak believes the high-flying restaurant chain's comparable sales are accelerating from the second quarter on traffic growth and recent price increases.

Gojack reiterated a Buy rating and said Street estimates of same-store sales growth for the third quarter and full year are too low.

Chipotle posted second-quarter same-store sales growth of 17.3 while revenue grew 28 percent to $1.05 billion.

Chipotle, up 30 percent year to date, opened Thursday at $692.92, up more than two percent.

Latest Ratings for CMG

Nov 2015Sterne Agee CRTDowngradesBuyNeutral
Nov 2015Bank of AmericaDowngradesBuyUnderperform
Nov 2015Telsey Advisory GroupUpgradesMarket PerformOutperform

View More Analyst Ratings for CMG
View the Latest Analyst Ratings

Posted-In: Analyst Color News Guidance Reiteration Analyst Ratings


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