Chipotle Mexican Grill, Inc. CMG shares are trading lower by $15.04 at $602.19 in Friday's session. The catalyst for the decline is a downgrade by Baird from Outperform to Neutral and lowered its price target to $675.
After a lower open, it rallied to $611.99 before falling under $600, reaching $594. It has not closed under $600 since July 21, 2014, when it ended the session at $589.93. It lept to $659.77 the following day after announcing its 2014 Q2 EPS beat.
Joel Elconin is the co-host of Benzinga;s #PreMarket Prep, a daily trading idea radio show.
Do you like this article? Do you have suggestions for improvement? Please email feedback@benzinga.com.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.