Wedbush Starts Chipotle Mexican Grill (CMG) at Outperform; What's Not To Love?

Wedbush initiates coverage on Chipotle Mexican Grill (NYSE: CMG) with an Outperform. PT $400.00.

Wedbush analyst says, "Believe continued outperformance in already industry-leading SSS growth and unit-level economics, combined with mid-teens unit growth, renders valuation premium justifiable. Upside to earnings estimates in 2H:11 and 2012 renders premium at least sustainable, in our view."

"Best-in-class comparable restaurant sales growth to drive consistent >20%
top-line growth, in our opinion. We believe Chipotle is well positioned to capture excess demand through productivity growth and price increases. We believe this could result in consistent best-in-class high-single digit comparable sales growth, driving sustained >20% top line growth well past 2012."

For more ratings news on Chipotle Mexican Grill click here and for the rating history of Chipotle Mexican Grill click here.

Shares of Chipotle Mexican Grill closed at $329.44 yesterday.

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