Credit Suisse analyst Jason West reiterates his Outperform rating for Chipotle Mexican Grill, Inc. (NYSE:CMG) after raising Q2 SSS estimates for the company.
The analyst explains, “We have re-run our proprietary NetBase analysis through June with the help of CS’s apparel team,” the analyst commented. “Net sentiment has exhibited a strong correl. (86%) with CMG SSS since the outbreak of the first food safety scare in Nov. ’15. After pausing in March at 52 (likely due to Boston norovirus headlines), net sentiment improved to 66 by June.”
The analyst raised 2016-2018 EPS estimates to $2.70/$10.72/$14.55, respectively.
According to TipRanks, the consensus price target for CMG is $486.21, marking an 18.91% upside from current prices.