On Oct 31, major Wall Street analysts update their ratings for $Chipotle Mexican Grill (CMG.US)$, with price targets ranging from $65 to $72.
Morgan Stanley analyst Brian Harbour maintains with a hold rating, and maintains the target price at $65.
BofA Securities analyst Sara Senatore maintains with a buy rating.
Wells Fargo analyst Zachary Fadem maintains with a buy rating, and adjusts the target price from $66 to $67.
Evercore analyst David Palmer maintains with a buy rating, and maintains the target price at $70.
TD Cowen analyst Andrew Charles maintains with a buy rating, and maintains the target price at $68.
Furthermore, according to the comprehensive report, the opinions of $Chipotle Mexican Grill (CMG.US)$'s main analysts recently are as follows:
The firm anticipates minimal contention from Chipotle's Q3 outcomes. The positive remarks from Chipotle about the sustained momentum throughout the quarter and into Q4, coupled with the enduring advantages from initiatives aimed at improving operational efficiency and ongoing investments in technology, are expected to elevate same-store-sales and potentially reduce long-term cost metrics over time.
Chipotle's Q4 comparable sales aligned with expectations, while earnings slightly exceeded forecasts. Despite this, the challenging comparison from Q4 and the lapsing of prices without subsequent increases, along with a more reserved outlook for 2025's new unit growth in comparison to long-term projections, have led to a more cautious sentiment among investors.
Chipotle's third-quarter earnings surpassed estimates due to favorable general and administrative expenses, restaurant margins, and tax rates, even though same-store sales growth was marginally below expectations. The company observed an uptick in traffic trends during September and October. Nevertheless, the indication of moderated pricing points to a continuation of the slower comparable growth trend that began in the third quarter into the fourth quarter.
The firm has increased its estimates and holds the view that the guidance for fourth-quarter same-store sales, which is anticipated to be between 5% to 5.5%, appears attainable. Additionally, there's potential for a price increase which could serve as a contingency measure.
Chipotle's Q3 earnings surpassed expectations, although its comparable sales growth of 6% did not meet the anticipated 6.5%. Management forecasted a slight uptick in transaction growth in Q4 compared to Q3, with pricing projected to increase just over 1% for the quarter.
Here are the latest investment ratings and price targets for $Chipotle Mexican Grill (CMG.US)$ from 11 analysts:
Note:
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