BMO Capital Upgrades Chipotle Mexican Grill (CMG) to Outperform

BMO Capital analyst Andrew Strelzik upgraded Chipotle Mexican Grill (NYSE: CMG) from Market Perform to Outperform with a price target of $65.00.

The analyst comments "We are upgrading CMG to Outperform and raising our target to $65, which implies 20%+ upside. We believe CMG is well positioned for accelerating comp growth and improving margin trajectory beginning in 2H25, and view favorably its strong US-heavy store growth that has room to accelerate towards 10% over time. We believe improvement in comp and margin trajectories combined with a widening gap to industry performance should warrant a higher multiple. Our target assumes a 45x P/E multiple, largely in line with CMG's historical average on our unchanged 2026 EPS."

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 $53.54 yesterday.

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