Chipotle's Solid Cash Flow And Debt-Free Balance Sheet Augmenting Accelerating Unit Growth: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Oppenheimer analyst Brian Bittner has reiterated an Outperform rating on Chipotle Mexican Grill, Inc. (CMG), raising the price target to $2,350 from $2,050. Bittner is optimistic about CMG's risk/reward and sees a compelling case for SSS, margin, and EPS upside through 2024. The bullish stance is supported by accelerating unit growth, solid cash flow, and a debt-free balance sheet. Bittner also raised 2023E/2024E EPS to $45.39/$54.87 from previous estimates of $44.03/$53.38.
July 17, 2023 | 5:32 pm
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Oppenheimer analyst Brian Bittner has raised the price target for Chipotle Mexican Grill, Inc. (CMG) to $2,350 from $2,050, citing solid cash flow, debt-free balance sheet, and accelerating unit growth. This could potentially lead to a positive impact on CMG's stock price.
The raised price target by Oppenheimer analyst Brian Bittner is based on Chipotle's solid cash flow, debt-free balance sheet, and accelerating unit growth. These factors are likely to boost investor confidence and could potentially lead to an increase in CMG's stock price in the short term.
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