Chipotle Mexican Grill (CMG) Planning To Launch Quesadillas - Cowen

Cowen analyst Andrew Charles reiterated an Outperform rating and $1,900.00 price target on Chipotle Mexican Grill (NYSE: CMG) highlighting the company as his top pick after store checks suggest quesadillas will be launching nationwide on 3/1.

The analyst remains very positive on the name, stating "We see no reason why quesadillas can't deliver a 3%-4% sales lift as our conversations with fast casual Mexican peers suggest quesadillas mix 8-11% of sales. We maintain our 1Q21 & 2021E comps of 18% & 17.8% vs 16.8% & 14.6% consensus, respectively, with quesadillas giving us further confidence to the upside."

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 $1416.24 yesterday.

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