Chipotle Mexican Grill's (CMG) Hold Rating Maintained at Deutsche Bank

Deutsche Bank maintained a Hold rating on Chipotle Mexican Grill (NYSE: CMG) with a price target of $400. Comments follow Chipotle Mexican Grill's ICR presentation.

Discussing recent developments, analyst Karen Short said, "In what we believe was ICR’s most heavily attended meeting, Chipotle’s top four executives spoke to investors offering updates on CMG’s ongoing “situation”. The company also provided color on the implemented food safety initiatives and near-term investments associated with these initiatives, and (unchanged) unit growth plans for the future. While we applaud management’s candor and transparency, we remain cautious on CMG’s stock for now because: 1) we believe top line resiliency is far from certain, 2) are not convinced another outbreak won’t occur, and 3) believe 2016 will be very choppy. As such – we only recommend CMG for investors with fairly long time horizons. For investors with a 1-year horizon, we believe the stock will remain range bound, so remain at Hold with a $400 price target."

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 $428.28 yesterday.

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