Robert W. Baird Believes Chipotle (CMG) Still Has Room to Grow
In a report issued on February 22, David Tarantino from Robert W. Baird maintained a Buy rating on Chipotle (CMG). The company’s shares closed last Tuesday at $1416.24, close to its 52-week high of $1564.91.
According to TipRanks.com, Tarantino is a 5-star analyst with an average return of 13.6% and a 67.4% success rate. Tarantino covers the Services sector, focusing on stocks such as Restaurant Brands International, Cheesecake Factory, and BJ’s Restaurants.
Currently, the analyst consensus on Chipotle is a Moderate Buy with an average price target of $1627.43, implying a 15.4% upside from current levels. In a report issued on February 9, Northcoast Research also upgraded the stock to Buy with a $1827.00 price target.
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Based on Chipotle’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.61 billion and net profit of $191 million. In comparison, last year the company earned revenue of $1.44 billion and had a net profit of $72.42 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 Newport Beach, CA.
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