Chipotle Addresses Negative Feedback On Portions, 9 Analysts Still Cut Forecasts After Better-Than-Expected Earnings Results
Portfolio Pulse from Priya Nigam
Chipotle Mexican Grill (NYSE:CMG) reported better-than-expected Q2 earnings but faced negative feedback on portion sizes. Despite strong traffic and revenue, analysts cut price targets due to margin pressures and decelerating sales growth. Shares fell 2.14% to $50.67.
July 25, 2024 | 3:36 pm
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Chipotle Mexican Grill reported better-than-expected Q2 earnings with strong traffic and revenue. However, analysts cut price targets due to margin pressures and decelerating sales growth. Shares fell 2.14% to $50.67.
Despite better-than-expected earnings, the negative feedback on portion sizes and margin pressures led analysts to cut price targets. This, combined with decelerating sales growth, resulted in a 2.14% drop in share price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100