Chipotle Mexican Grill (CMG) Estimates Raised at RBC Capital

RBC Capital analyst David Palmer raised estimates on Chipotle Mexican Grill (NYSE: CMG) while reiterating Outperform rating and $680 price target.

"We are modestly raising our above-consensus EPS estimates to account for the pull-forward of price action that is currently ongoing," Palmer said. "Once implemented, we believe that pricing will ultimately be in line with the high end (e.g., 6%) of the mid-single-digit range we had expected."

The firm is raising 2014 EPS estimate from $13.05 to $13.11 (+25% YOY, vs. $12.59 consensus) to account for the pull-forward of price action as well as their belief that pricing will ultimately be in line with the high end (e.g., 6%) of the mid-single-digit range they had expected. The firm's 2015 EPS estimate of $17.25 (+32% YOY, vs. $15.96 consensus) remains unchanged.

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 $538.26 yesterday.

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