BTIG Reiterates Buy Rating on Chipotle Mexican Grill (CMG)
BTIG analyst Peter Saleh reiterated a Buy rating and $67.00 price target on Chipotle Mexican Grill (NYSE: CMG).
The analyst comments "We maintain our Buy rating and our $67 price target on Chipotle shares as we continue to believe that mid-single digit same-store sales growth in 2025 is possible on the heels of faster thru-put and successful LTOs. That said, we expect the shares to be under near-term pressure as 1Q25 estimates adjust lower due to poor weather, calendar shifts, and fires in California. We expect sales trends to improve in 2Q as we enter peak burrito selling season, and eventually aided by the Honey Chicken LTO, but expect comps to be higher in 2H vs. 1H."
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Shares of Chipotle Mexican Grill closed at $59.02 yesterday.