Chipotle Mexican Grill (CMG) Earnings Preview and the Buyside Consensus - Credit Suisse

January 26, 2021 7:09 AM EST
Get Alerts CMG Hot Sheet
Price: $1,535.04 -0.48%

Rating Summary:
    27 Buy, 17 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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Credit Suisse analyst Lauren Silberman reiterated an Outperform rating and $1,700.00 price target on Chipotle Mexican Grill (NYSE: CMG) ahead of 4Q earnings 2/2 AMC. In October, SSS were trending mid-single digits, noting the brand started lapping the launch of Carne Asada in mid-September, contributing to double-digit SSS in each month of 4Q19’s 13.4%. Compares remain tough in early 1Q, with CMG to lap January SSS 12.1% & February 17.1%.

The analyst remains positive on the story offering insight into what the consensus looking for. She stated "While bears point to margin concerns, bulls seem more focused on top-line, with greater conviction in the margin story driven by confidence in management, expectations for delivery headwinds to abate, benefits from digital/Chipotlanes & sales leverage. We recognize valuation looks rich, though this is nothing new, reflects outsized earnings growth & is in part due to scarcity of high quality, high growth large cap restaurant stocks, with ongoing SSS strength to support a premium multiple, and potential upside to numbers on SSS, unit growth & margins."

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 $1486.32 yesterday.



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