This Analyst Is Optimistic About Chipotle's Resilience Amid Inflation, Cites Strong Premium Digital Capabilities And Unit Returns
Portfolio Pulse from Nabaparna Bhattacharya
KeyBanc Capital Markets analyst Eric Gonzalez reiterated an Overweight rating on Chipotle Mexican Grill, Inc. (NYSE:CMG) and raised the price target to $2,300 from $2,050. The analyst cites strong premium digital capabilities, unit returns, and sustained traffic momentum as reasons for optimism. Gonzalez also raised the 2Q23 SSS growth estimate from 7% to 7.5% and the full-year SSS growth estimate from 7% to 7.4%.
June 23, 2023 | 5:51 pm
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KeyBanc analyst Eric Gonzalez raised Chipotle's price target to $2,300 and reiterated an Overweight rating, citing strong digital capabilities, unit returns, and sustained traffic momentum.
The analyst's optimism about Chipotle's resilience amid inflation, strong premium digital capabilities, and unit returns is likely to have a positive impact on the stock price in the short term. The raised price target and Overweight rating signal confidence in the company's growth prospects.
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