Wells Fargo Believes Chipotle (CMG) Still Has Room to Grow


Wells Fargo analyst Jon Tower maintained a Buy rating on Chipotle (CMG) yesterday. The company’s shares closed last Wednesday at $1366.66, close to its 52-week high of $1384.46.

According to TipRanks.com, Tower is a 4-star analyst with an average return of 24.5% and a 87.5% success rate. Tower covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Cheesecake Factory, and Red Robin Gourmet.

Chipotle has an analyst consensus of Moderate Buy, with a price target consensus of $1365.68, a 1.6% upside from current levels. In a report issued on October 15, KeyBanc also maintained a Buy rating on the stock with a $1475.00 price target.

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The company has a one-year high of $1384.46 and a one-year low of $415.00. Currently, Chipotle has an average volume of 306.5K.

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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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