- Analysts are buzzing over Chipotle (CMG +2%) as they position themselves ahead of the restaurant chain's Q1 report.
- Standpoint Research begins coverage on Chipotle with a Sell rating.
- BTIG is in with a Neutral rating on CMG on its view that higher menu prices will be offset by increased sales recovery costs and food safety expenses. "Despite all the challenges that Chipotle has endured over the past 18 months, the company's valuation remains lofty," warns the firm.
- Maxim Group: "We believe the potential upside and risks are balanced, and thus maintain our P/E multiple target of 32x. This multiple is in-line with CMG’s five-year average prior to the company’s food safety scares in 4Q15."
- OTG Global upgrades Chipotle to Positive from Mixed based off of checks with the restaurant operator's suppliers.
- Price targets on Wall Street for Chipotle range from $280 ( Credit Suisse (SIX:CSGN)) to $547 (Buckingham Research).
- Previously: 52-week high for Chipotle as earnings approach (April 18)
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