Chipotle Set for 2022 Rebound Despite Covid, Other Headwinds: Keybanc [TheStreet.com]
Chipotle Mexican Grill, Inc. (CMG)
Last chipotle mexican grill, inc. earnings: 4/21 04:10 pm
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Source: TheStreet.com
Analysts at Keybanc are cautious when it comes to their outlook for restaurants in 2022 as comparisons to 2021 could be tough. But the stock of Chipotle ( ) -, which the investment bank rates overweight, is one of its key ideas for the year. Keybanc analyst Eric Gonzalez matches the overweight rating with a $1,850 price target, representing 30% upside from the stock's previous closing price of $1,420. The investment firm says the setup for restaurants in 2022 is "far from perfect," due to headwinds like a rise in Covid-19 infections, cost inflation, tough multiyear comparisons and limited earnings visibility. But "we view the sector's lackluster performance since the start of the year as an opportunity to get more constructive on select high-quality names," said. Weighted by market capitalization, restaurant stocks underperformed the wider market (a 20% increase vs a 27% rise for the S&P 500). That's'an uncharacteristic negative gap for a group that has performed between in-line
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CMG
Earnings
- 2/6/24 - Beat
CMG
Sec Filings
- 4/8/24 - Form PRE
- 3/22/24 - Form 4
- 3/20/24 - Form 144
- CMG's page on the SEC website