Piper Jaffray analyst, Nicole Miller Regan, reiterated her bull thesis on Chipotle Mexican Grill (NYSE: CMG) after the company preannounced weaker than expected 1Q results. She believes the company will be able to deliver a relatively steady improvement in same-store sales trends over the course of the year and leverage exists "when" (not "if") trends improve.

No change to Overweight rating or $590 price target based on ~20x FY17 EBITDA.

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 $503.00 yesterday.

Analyst Comments

Chipotle Mexican Grill (CMG) Downgraded to Underperform at JefferiesMarch 17, 2016 7:23 AM Chipotle (CMG) Plans to Mail ~21M Cards for Free Burritos; Sees Recent Norovirus Incident as 'Non Event'March 16, 2016 10:48 AM RBC Cuts Chipotle Mexican (CMG) EPS but Not Price TargetMarch 16, 2016 9:44 AM Chipotle's (CMG) Traffic Improvement in Feb. More Significant than Comps Suggest - BTIGMarch 16, 2016 9:12 AM Chipotle Mexican Grill's (CMG) Price Target Raised to $550 at SunTrust March 16, 2016 9:08 AM Maxim Group Downgrades Chipotle Mexican Grill (CMG) to SellMarch 16, 2016 7:49 AM Chipotle sales worse than expected in Feb, first-quarter loss seenMarch 15, 2016 4:37 PM Chipotle Mexican Grill (CMG) Updates on Q1 Performance; Feb Comps Down 26.1%, Sees Loss of $1/Share or Worse vs. Expected ProfitMarch 15, 2016 4:27 PM