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UPDATE: Miller Tabak Raises PT on Chipotle Mexican Grill on Qdoba Restaurant Closures

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In a report published Tuesday, Miller Tabak analyst Stephen Anderson maintained Chipotle Mexican Grill (NYSE: CMG) at a Buy rating and raised the price target from $395 to $400.

In the report, Miller Tabak cited its price target increase due to news that, “Qdoba, the second largest fast casual Mexican chain in the U.S., would close more than 10% of its restaurants… We long have argued CMG has had stronger brand differentiation and operations execution relative to Qdoba, and anticipate CMG will gain market share at the expense of Qdoba as the latter chain retreats.”

Chipotle Mexican Grill closed Monday at $367.68.

Posted-In: Miller Tabak Stephen AndersonAnalyst Color Price Target Analyst Ratings

 

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Earnings Scheduled for June 19, 2013

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