Is Chipotle Stock Going to $3,500? 1 Wall Street Analyst Thinks So. [Yahoo! Finance]
Chipotle Mexican Grill, Inc. (CMG)
Last chipotle mexican grill, inc. earnings: 4/21 04:10 pm
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US:NYSE Investor Relations:
ir.chipotle.com
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Source: Yahoo! Finance
In the first quarter, the company's revenue and earnings beat the Street's estimates, leading analysts at Baird to bump their price target. The firm maintained an outperform (buy) rating on the shares and raised the 12-month price target from $3,250 to $3,500, or just under 10% higher than the current share price of around $3,185. Be aware that this price target total will change if Chipotle shareholders approve a proposed 50-for-1 stock split sometime in June. What is driving Wall Street's optimism? Chipotle has long been one of the top-performing restaurant chains in the industry, and its first-quarter update continued to validate that position. A solid comparable sales increase of 7% combined with 47 new restaurant openings helped drive a 14% year-over-year increase in total revenue. Management raised its full-year guidance for comp sales, which is now expected to increase in the mid to high-single-digit range in 2024. Is the stock heading to $3,500? The stock has been
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CMG
Earnings
- 4/24/24 - Beat
CMG
Sec Filings
- 5/3/24 - Form DEFA14A
- 5/1/24 - Form PX14A6G
- 4/29/24 - Form 4
- CMG's page on the SEC website