Goldman Sachs Maintains Top Rating on Chipotle Mexican Grill (CMG) Following Q1

Goldman Sachs reiterated its Conviction Buy List rating on Chipotle Mexican Grill (NYSE: CMG) following Q1 EPS of $1.97 which beat the consensus of $1.93 but was below the firm's $2.00. However underlying EPS was $2.08, well ahead of views.

All aspects of the quarter suggest the strong growth trajectory remains intact, the firm said. Specifically, the firm highlighted that SSS at 12.7% beat, fixed cost leverage was strong, food costs remain under control and growth plans including International expansion and Shop House are starting to show concrete promise.

Goldman tweaked 2012-2014 EPS estimates to $9.33/$12.32/$15.24 from $9.48/$12.31/$15.17 to flow through 1Q12 results and update commodities to spot.

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 $430.78 yesterday.

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