Chipotle Receives a Hold from Wedbush


Wedbush analyst Nick Setyan maintained a Hold rating on Chipotle (NYSE: CMG) today and set a price target of $450. The company’s shares closed yesterday at $463.16, close to its 52-week high of $473.96.

According to TipRanks.com, Setyan is a 4-star analyst with an average return of 9.1% and a 67.4% success rate. Setyan covers the Services sector, focusing on stocks such as Del Taco Restaurants, Jack In The Box Inc, and Cheesecake Factory.

Chipotle has an analyst consensus of Hold, with a price target consensus of $397.25.

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Based on Chipotle’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $59.45 million. In comparison, last year the company had a net profit of $46.12 million.

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Chipotle Mexican Grill, Inc. engages in the development and operation of fast-casual, fresh Mexican food restaurants throughout the U.S. It offers focused menu of burritos, tacos, burrito bowls, and salads, prepared using classic cooking methods. The company was founded by Steve Ells in 1993 and is headquartered in Denver, CO.

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