UPDATE: Loop Capital Starts Chipotle Mexican Grill (CMG) at Hold

October 5, 2021 4:12 PM EDT
Get Alerts CMG Hot Sheet
Price: $1,792.21 -2.8%

Rating Summary:
    28 Buy, 16 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 16 | Down: 18 | New: 32
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(Updated - October 5, 2021 4:19 PM EDT)

Loop Capital analyst Alton Stump initiates coverage on Chipotle Mexican Grill (NYSE: CMG) with a Hold rating and a price target of $1,800.00.

The analyst comments "CMG’s sales bounced back quickly after the initial pandemic impact. Along with other domestic casual and fast-casual dining competitors not offering drive-thru, Chipotle’s sales were negatively impacted during the initial period after the pandemic outbreak. However, the company’s same-store sales quickly snapped back to positive growth since 3Q20, which was remarkable given the company has only a very limited drive-thru presence. The greatest driver by far behind this impressive recovery was CMG’s success in promoting its digital/delivery platform. In addition, CMG executed a successful innovation pipeline during 1H21."

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 $1804.77 yesterday.

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