Chipotle Stock Hits a Record. Analysts Loved Its Earnings. | CMG Message Board Posts


CMG   /  Message Board  /  Read Message

 

 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message    Post Message    Post a Reply return to message boardtop of board
Msg  60 of 60  at  7/21/2021 6:08:31 PM  by

jerrykrause


Chipotle Stock Hits a Record. Analysts Loved Its Earnings.

 

Chipotle Stock Hits a Record. Analysts Loved Its Earnings.

 
 

Chipotle Mexican Grill soared more than 10% to a record high as analysts praised the burrito chain's second quarter results.

After the close of regular trading Tuesday, Chipotle (ticker: CMG) said it earned an adjusted $7.46 a share from revenue of $1.9 billion, beating Wall Street's forecasts for both the top and bottom lines. Sales at restaurants open at least a year grew more than 31%, also coming in ahead of expectations.

The stock was up 10.4% to a record $1,740 in midday trading, putting the shares on track for their biggest daily percentage gain since April 2020. The stock has jumped 25% year to date and is up more than 46% in the past 12 months.

Several analysts raised their targets for the stock price. Cowen & Co.'s Andrew Charles reiterated an Outperform rating and increased his call to $2,080 from $1,850. Charles said Chipotle. a top pick for him, "will demonstrate proficiency in growing comps 5% annually," in 2022 and beyond.

Credit Suisse's Lauren Silberman reiterated an Outperform rating and lifted her target to $2,075 from $1,950. "Chipotle continues to be one of our favorite near-term and long-term stocks as a rare compounding growth story positioned for double-digit top-line, margin expansion and unit growth acceleration over the years to come," she wrote in a research note.

RBC Capital Markets' Christopher Carril reiterated an Outperform rating and boosted his target to $1,825 from $1,800, saying he was pleased that the chain's momentum has continued into the third quarter, with a higher forecast for comparable-restaurant sales than Wall Street expected.

Stephens' James Rutherford took his target to $1,850 from $1,700. He too reiterated an Outperform call, writing that "Chipotle checked all the right boxes this quarter."

Stifel's Chis O'Cull kept the stock at Buy rating and raised his target to $1,850 from $1,750. He said that though the company is paying higher wages, he expects Chipotle to improve margins over time as sales volumes rise.

Truist Securities' Jake Bartlett reiterated a Buy rating and lifted his target to $1,800, from $1,750. Strong comparable-outlet sales are "supporting accelerating development despite wage pressure," he said.

 


     e-mail to a friend      printer-friendly     add to library      
|  
Recs: 0  
   Views: 0 []
Previous Message    Post Message    Post a Reply return to message boardtop of board


Financial Market Data provided by
.
Loading...