Chipotle Mexican Grill 'Stands Out From The Crowd': 6 Analysts Take Bite Into Q3 Results
Portfolio Pulse from Priya Nigam
Chipotle Mexican Grill, Inc. (NYSE:CMG) shares continued to rise after reporting higher than expected Q3 earnings, same-store sales growth, and store-level margins. Analysts from KeyBanc Capital Markets, Goldman Sachs, Oppenheimer, Stephens, Wedbush, and William Blair maintained positive ratings and raised price targets. The company's Q4 same-store sales growth is projected to accelerate to the mid-to high-single-digit range, supported by recent price increases and successful menu items.
October 27, 2023 | 2:43 pm
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Chipotle's Q3 earnings beat expectations, leading to a rise in share prices. Analysts maintain positive ratings and expect Q4 same-store sales growth to accelerate, which could further boost the stock.
Chipotle's better than expected Q3 earnings and positive analyst ratings have led to a rise in its share prices. The company's projected acceleration in Q4 same-store sales growth, supported by recent price increases and successful menu items, could further boost the stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100