Market Overview

Chipotle Opens Up; Analyst Says Street Comp View Too Low

Related CMG
Options Traders Beware: Both Bulls And Bears Lack Conviction
Guy Adami Sees McDonald's At $103
Making Money With Charles Payne: 09/19/14 (Fox Business)

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

DateFirmActionFromTo
Sep 2014OppenheimerMaintainsOutperform
Aug 2014Longbow ResearchDowngradesBuyNeutral
Jul 2014CitigroupMaintainsBuy

View More Analyst Ratings for CMG
View the Latest Analyst Ratings

Posted-In: Analyst Color News Guidance Reiteration Analyst Ratings

 

Related Articles (CMG)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters