Chipotle Mexican Grill (CMG) Planning To Launch Quesadillas - Cowen
- Tech stocks push S&P 500 to record close, buoy Nasdaq
- U.S. Calls for Pause of J&J (JNJ) Vaccine After Clotting Cases, Including One Death
- Coinbase (COIN) direct listing IPO reference price set at $250
- Biggest SPAC Deal Ever: Grab To Go Public in a $40 Billion Merger With Altimeter (AGC), Backed by Fidelity and BlackRock
- Oil rises after robust China data but J&J vaccine pause weighs
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
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."
Shares of Chipotle Mexican Grill closed at $1416.24 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Raymond James Upgrades Chipotle Mexican Grill (CMG) to Outperform
- UPDATE: Wolfe Research Upgrades Targa Resources (TRGP) to Outperform, 'Premium story at a discount'
- UPDATE: JPMorgan Upgrades Southwest (LUV) to Neutral
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments
Related EntitiesCowen & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!