William Blair Reiterates Outperform On Chipotle Mexican Grill Shares
In a research report issued today, William Blair analyst Sharon Zackfia reiterated an Outperform rating on Chipotle Mexican Grill (NYSEARCA:CMG). No price target was provided.
Zackfia noted, “We expect traffic to rise an impressive 12% to 13%, similar to the second quarter’s traffic gains and representing a continued acceleration in two-year traffic trends on improved throughput. Chipotle completed a 6.25% to 6.50% gross price increase toward the end of the second quarter (excluding any potential mix shift away from beef), and, as a result, we also anticipate an approximate 6% price benefit in the third quarter.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Sharon Zackfia has a total average return of 16.4% and a 65.4% success rate. Zackfia has a 8.3% average return when recommending CMG, and is ranked #285 out of 3335 analysts.