Market Overview

UPDATE: Sterne Agee Initiates Chipotle Mexican Grill at Buy on Compelling Unit Growth Story

Share:
Related CMG
Chipotle Reaches Highest Level Since Q3 Report
Lightning Round: Jim Cramer Is A Seller Of Pandora, Lost Faith In Chipotle
My 27 Stock Portfolio (Seeking Alpha)

In a report published Wednesday, Sterne Agee analyst Lynne Collier initiated coverage on Chipotle Mexican Grill (NYSE: CMG) with a Buy rating and $429.00 price target.

In the report, Sterne Agee noted, “We are initiating coverage of CMG with a BUY rating and $429 price target, implying ~20% upside. Arguably, CMG has created one the best operating models in the industry's history. Market share gains should continue as Chipotle provides the perfect recipe: convenience, quality, customization & value. We find the unit growth story compelling with the ability to more than double the current store base. Given this model, we project that EPS growth of 20%+ is achievable over the next 3-5 years.”

Chipotle Mexican Grill closed on Tuesday at $358.96.

Latest Ratings for CMG

DateFirmActionFromTo
Oct 2017BMO CapitalMaintainsMarket Perform
Oct 2017Credit SuisseMaintainsNeutral
Oct 2017BarclaysMaintainsEqual-Weight

View More Analyst Ratings for CMG
View the Latest Analyst Ratings

Posted-In: Lynne Collier Sterne AgeeAnalyst Color Initiation Analyst Ratings

 

Related Articles (CMG)

View Comments and Join the Discussion!

Partner Center