Chipotle Mexican Grill (CMG): Cutting SSS Ests And PT Based On Checks - Nomura
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Nomura Securities analyst, Mark Kalinowski, reiterated his Neutral rating on Chipotle Mexican Grill (NYSE: CMG) and cut his price target to $372 from $405 "ahead of earnings" "based on checks".
The analyst cut the third-quarter same-store sales forecast for Chipotle Mexican Grilby 150bp, to -19.5% (160bp under the Consensus Metrix number of -17.9%). The company's third-quarter promotions do not appear to have had the fully desired effects from the company's perspective. Given reduced same-store sales projections, the analyst takes down our Q3 EPS by -$0.30, to $1.60 ($0.08 below consensus).
Shares of Chipotle Mexican Grill closed at $404.14 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesNomura, Earnings
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