Jefferies Slashes PT, Estimates on Chipotle Mexican Grill (CMG)

October 26, 2016 7:19 AM EDT
Get Alerts CMG Hot Sheet
Price: $407.72 +0.62%

Rating Summary:
    15 Buy, 19 Hold, 8 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Jefferies analyst Andy Barish reiterated his Underperform rating and cut the price target on Chipotle Mexican Grill (NYSE: CMG) to $300.00 (from $330.00) following weak results.

Barish commented, "3Q results miss across all metrics. SSS still -20%ish in October before CMG laps last year food-safety issues. Since promo/food giveaways not really working, significant changes afoot to drive better '17. Guide points to high s-d sss and $10 EPS, but we can't get there. Estimates down this year and next and Price Target goes to $300 (from $330)."

The firm cut FY 2016 EPS from $2.85 to $1.51 and FY 2017 EPS from $9.42 to $8.01.

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 closed at $405.67 yesterday.

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