Chipotle Mexican Grill Stock Tumbles: 5 Analysts Deep Dive Into Q2 Print, Q3 Outlook
Portfolio Pulse from Priya Nigam
Chipotle Mexican Grill, Inc. (NYSE:CMG) shares fell after reporting disappointing Q2 results and Q3 outlook. Analysts from Wedbush, KeyBanc Capital Markets, RBC Capital Markets, Stephens, and Oppenheimer maintained an Outperform rating but reduced their price targets. The company's Q3 outlook came in below expectations due to projected moderation in SSS growth and pressure on store level margins from rising labor and avocado costs. However, analysts believe that CMG is poised for accelerated market share gains in a post-COVID environment.
July 27, 2023 | 4:03 pm
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Chipotle's shares fell after disappointing Q2 results and Q3 outlook. Despite this, analysts maintain an Outperform rating but have reduced their price targets.
The company's Q2 results and Q3 outlook were below expectations, leading to a fall in share price. However, analysts maintain an Outperform rating, indicating they believe the company will outperform the market or its sector in the future. The reduction in price targets suggests a lower expected future price, which could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100