Piper Jaffray Analyst Reiterates Overweight Rating for Chipotle Mexican Grill, Inc. (CMG)
Piper Jaffray analyst, Nicole Miller Regan, reiterates her Overweight rating for Chipotle Mexican Grill, Inc. (NYSE:CMG) with a price target of $590, ahead of the company’s earnings release.
The analyst maintains that there have been both positive and negative flows that will be included in the company’s second quarter earnings. However, the analyst’s traffic checks show that overall the traffic trends for the restaurant chain have improved. The analyst explains that her long-term bull case is predicated on significant leverage existing if trends improve.
According to TipRanks, Nicole Miller Regan is ranked #1,864 of 4,058 analysts. She upholds a success rate of 53% and realizes an average return of 0.7%. When rating CMG, Regan maintains a success rate of 8% and an average loss of -24.5%.