Instinet Remains Sidelined on Chipotle Mexican Grill (CMG) Following 4Q
Instinet reiterated a Neutral rating and $333.00 price target on Chipotle Mexican Grill (NYSE: CMG) following the company's 4Q report.
Analyst Mark Kalinowski commented, "After yesterday's market close, Chipotle Mexican Grill reported Q4 EPS of $0.55, within the pre-announced range of $0.50-0.58, and matching our $0.55 estimate. Consensus Metrix was at $0.54. Fourth-quarter same-store sales—which had been previously divulged—declined by 4.8%. For full-year 2017, the company continues to target high-single-digit same-store sales, 195-210 new units, and a tax rate of 39.0-39.5%. We retain our 2017 and 2018 EPS projections of $8.40 and $12.40, respectively, and maintain our Neutral rating on CMG."
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Shares of Chipotle Mexican Grill closed at $423.30 yesterday.