RBC Capital Sees Offsite Ordering as Sales Opportunity for Chipotle Mexican Grill (CMG); Reiterates Outperform
RBC Capital reiterated an Outperform rating and $825.00 price target on Chipotle Mexican Grill (NYSE: CMG), and believes that the company's offsite ordering represents an important sales opportunity.
Analyst David Palmer commented, "We are maintaining our price target and trimming our EPS estimates slightly based on our expectation is likely to remain in the 3%-4% range in the medium term. That said, we believe Chipotle has an important sales opportunity with offsite ordering. And we expect the company to raise awareness of mobile ordering in the near-term."
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Shares of Chipotle Mexican Grill closed at $705.63 yesterday.