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Why Jim Cramer Is Doubling Down On Chipotle Mexican Grill Stock

Why Jim Cramer Is Doubling Down On Chipotle Mexican Grill Stock

Chipotle Mexican Grill Inc (NYSE: CMG) hit a new 52-week high after JPMorgan raised its price target and Raymond James upgraded the company Monday.

JPMorgan analyst John Ivankoe maintained Chipotle at Neutral and raised the price target from $1,350 to $1460.

Raymond James analyst Brian Vaccaro upgraded Chipotle from Market Perform to Outperform and announced an $1,800 price target. 

On CNBC's "Squawk On The Street" Monday, Jim Cramer said he likes the Raymond James price target of $1,800. 

Chipotle was able to make nearly as much money outside the store as it did inside the store before the COVID-19 pandemic, Cramer said.

Now, the inside of the store is going to open, he said.

"I think it's still a buy. I've liked these guys since $300 and I'm doubling down right here." 

See also: Chipotle Offers Employees Free Degrees In Agriculture, Culinary And Hospitality Studies

CMG Price Action: Chipotle was up 1.46% to $1,553.02 at last check Monday.

Image by samuelfernandezrivera from Pixabay

Latest Ratings for CMG

Apr 2021RBC CapitalMaintainsOutperform
Apr 2021Deutsche BankMaintainsHold
Apr 2021Evercore ISI GroupMaintainsOutperform

View More Analyst Ratings for CMG
View the Latest Analyst Ratings


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