Jim Cramer on Chipotle stock: 'I like it to go to $2,000'
Shares of Chipotle Mexican Grill Inc $Chipotle Mexican Grill(CMG.US$ are already up more than 25% for the year but famed investor Jim Cramer is convinced that they’re not out of room to run just yet.
![Jim Cramer on Chipotle stock: 'I like it to go to $2,000'](https://sgsnsimg.moomoo.com/feed_image/102681775/32db554a5b6f361da4462ddad1c18558.png/bigmoo)
Cramer expects this chain of fast casual restaurants to see continued growth in sales on the back of an amazing variety on its menu. On CNBC’s “ Squawk on the Street ”, he said:
They’re back to having menu items that drive their sales up and it’s an exciting time because the stock is finally breaking out after multi-year consolidation and I like it to go to $2,000.
The Mad Money host is constructive also because he has confidence in the leadership of Brian Niccol who has been at the helm since early 2018.
At writing, the price-to-earnings multiple on Chipotle stock is well below its average over the past five years.
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