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UPDATE: Morgan Stanley Reiterates on Chipotle Mexican Grill on Positive Outlook, Limited Estimate Risk

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In a report published Tuesday, Morgan Stanley analyst John Glass reiterated an Overweight rating on Chipotle Mexican Grill (NYSE: CMG), and raised the price target from $485.00 to $594.00.

In the report, Morgan Stanley noted, “Increasing our PT for CMG shares to $594, from $485. Our PT is for '14 and uses CMG's 37x average NTM P/E. We are also tweaking our DCF model. We believe CMG will hold its average multiple given strong top-line momentum and an easing commodity cost environment, which limits the risk to estimates.”

Chipotle Mexican Grill closed on Monday at $537.51.

Latest Ratings for CMG

DateFirmActionFromTo
Apr 2019Morgan StanleyDowngradesOverweightEqual-Weight
Apr 2019Wells FargoMaintainsMarket PerformMarket Perform
Apr 2019JefferiesDowngradesBuyHold

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View the Latest Analyst Ratings

Posted-In: John Glass Morgan StanleyAnalyst Color Price Target Analyst Ratings

 

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