Deutsche Bank Starts Chipotle Mexican Grill (CMG) at Hold

Deutsche Bank initiated coverage on Chipotle Mexican Grill (NYSE: CMG) with a Hold rating and a price target of $640. Analyst Karen Short has concerns about challenging comparisons.

"Chipotle's focus on a simple menu and operating model (focusing on being a superior operator) continues to be easy to imitate, but hard to duplicate. We look for the company to remain vigilant in its consistent unit expansion, largely non-traditional media marketing approach and staying true to its guiding principle of "food with integrity". Our concerns are primarily reflective of challenging comparisons and are not related to the operating or growth strategies. We believe our concerns warrant a Hold rating and our $640 price target," said Short.

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 $612.50 yesterday.

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