Wedbush Bumps PT on Chipotle Mexican (CMG) after Q4, Remains on the Sidelines

February 6, 2013 11:39 AM EST Send to a Friend
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Price: $610.00 --0%

Rating Summary:
    18 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 18 | New: 11
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Wedbush raised its price target on Chipotle Mexican Grill (NYSE: CMG) from $290 to $310 following Q4 results after the close that were in-line with the company's pre-announcement. The firm is maintaining a Neutral rating.

"We believe Chipotle's current valuation properly reflects the probability of a price increase in mid-2013 in the 3-5% range and the possibility of catering traction, balanced by slowing long-term growth fundamentals, such as a slowing unit growth rate," the analyst said.

The 2013 unit opening guidance of 165-180 units was below the firm's expectations of 190 and below the 180 openings in 2012.

2013 EPS estimates were raised from $10.33 to $10.38 to reflect a slightly lowered commodity inflation assumption. The firm also introduced 2014 EPS of $12.23.

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 $305.01 yesterday.


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Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

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