UBS Sees a Solid Qtr for Chipotle Mexican (CMG), Raises Numbers Ahead of Q4 Print

UBS raised estimates and its price target on Chipotle Mexican Grill (NYSE: CMG) from $270 to $310, although they left their rating at Neutral. The firm is anticipating a solid quarter from the quick serve restaurant chain when it reports on February 5th.

UBS raised 2013 and 2014 EPS estimates to $10.46 (+17% YOY) and $12.55 (+20% YOY) respectively. They also raising 4Q EPS estimate to $2.15 (+19% YOY).

"These changes reflect our higher SSS estimates, including 4Q SSS growth estimate of 5% (3.5% prior) following results of our consumer panel analysis through December," analyst David Palmer states. "Based on the panel, we believe that 4Q SSS growth was similar to or better than last quarter's 4.8% rate, despite more difficult weather comparisons and 1pp less pricing."

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 $298.41 yesterday.

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