These Analysts Revise Their Forecasts On Chipotle After Q2 Results
Portfolio Pulse from Lisa Levin
Chipotle Mexican Grill, Inc. (NYSE:CMG) missed Q2 revenue estimates but beat earnings per share estimates. The company expects Q3 comparable restaurant sales growth to be in the low to mid-single-digit range. Following the earnings announcement, several analysts revised their price targets on Chipotle. Shares fell 8.3% in pre-market trading.
July 27, 2023 | 12:07 pm
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Chipotle missed Q2 revenue estimates but beat earnings per share estimates. Analysts revised their price targets on the stock, and shares fell 8.3% in pre-market trading.
Chipotle's missed revenue estimates and the subsequent downward revision of price targets by analysts are likely to negatively impact the stock price in the short term. The drop in pre-market trading indicates a negative investor sentiment towards the stock.
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