Chipotle Mexican Grill (CMG): Cutting SSS Ests And PT Based On Checks - Nomura
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Raises Price Target on FMC Technologies (FTI) After Adjusting Estimates
- KLR Group Cuts Price Target on Southwestern Energy (SWN) to $14
- Netflix (NFLX) PT Raised to $140 at Guggenheim
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesNomura, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!