Analysts from Wedbush believe that shares of Chipotle Mexican Grill CMG will move higher by year-end on the back of potential price increases and the profit potential of a nationwide catering service.
Analysts also noted that they see shares as "safe," based on modest first quarter expectations, as well as "solid Q1 and Q2-to-date checks."
Based on their study, it is estimated that three to four catering orders are purchased per week, per store, in excess of $300. Analysts believe this could increase both the top and bottom lines more than the general consensus.
Wedbush raised CMG to Outperform, from Neutral and increased their price target to $400, from $320.
Wedbush also raised CMG's EPS estimate for 2013 to $10.46, from $10.38 and also raised 2014 EPS to $13.03, from $12.23.
CMG is currently up ~.75% in early Monday trading.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in