Jefferies Sees Chipotle Mexican (CMG) Lower After Weak Q4 Numbers

January 16, 2013 7:20 AM EST
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Price: $417.89 +2.49%

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    15 Buy, 19 Hold, 8 Sell

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Jefferies reiterated its Underperform rating and $215 price target on Chipotle Mexican Grill (NYSE: CMG) following lower Q4 numbers.

The company said it sees diluted earnings per share in the range of $1.92 to $1.97, versus the consensus of $2.09. Revenue expected to increase 17.2% to $699.2 million. The Street sees revs of $690.86 million. Comparable restaurant sales expected to increase 3.8%.

The firm notes while SSS were essentially in line and revenues/units ahead of estimates, the stock will likely be down as it becomes increasingly clear LSD/MSD SSS and modest pricing will not maintain margins and could yield 2013 EPS significantly below consensus.

For an analyst ratings summary and ratings history on Chipotle Mexican Grill click here. For more ratings news on Chipotle Mexican Grill click here.

Shares of Chipotle Mexican Grill are indicated to open between $268-$275 after closing at $297.32.

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