Analysts discuss what to do with Chipotle stock after CEO transition

William Blair Reiterates Outperform Rating on Chipotle Mexican Grill (CMG)

William Blair analyst Sharon Zackfia reiterated an Outperform rating on Chipotle Mexican Grill (NYSE: CMG).

The analyst comments "Chipotle announced the surprise departure of Chairman and CEO Brian Niccol on August 31 to join Starbucks as chairman and CEO. Niccol joined Chipotle in early 2018 and has been key in the company, refining its new product innovation through a strict stage gating process, amplifying its marketing message, building its digital ecosystem, and creating a deeper, more experienced management bench. That... More

Chipotle Mexican Grill (CMG) PT Lowered to $70 at Bernstein SocGen Group

Bernstein SocGen Group analyst Danilo Gargiulo lowered the price target on Chipotle Mexican Grill (NYSE: CMG) to $70.00 (from $80.00) while maintaining a Outperform rating.... More

Chipotle Mexican Grill (CMG) PT Lowered to $62 at Baird following CEO departure

(Updated - August 14, 2024 6:26 AM EDT)

Baird analyst David Tarantino lowered the price target on Chipotle Mexican Grill (NYSE: CMG) to $62.00 (from $74.00) while maintaining a Outperform rating.

The analyst commented: "Incrementally negative on CMG, but keeping Outperform rating. The announced... More

Starbucks stock earns 6th upgrade in 24 hours as Wall Street welcomes CEO change

A number of Wall Street firms lifted their ratings on Starbucks (NASDAQ: SBUX) stock in the past day after the coffeehouse chain announced the appointment of a new CEO.

Specifically, Starbucks said Tuesday it has hired Chipotle (NYSE: CMG) CEO Brian Niccol to replace Laxman Narasimhan, sending its shares surging 24.5% for their best day on record.

Meanwhile, Chipotle shares fell 7.5% on Tuesday.

Following Niccols appointment, Stifel analysts upgraded the SBUX stock to Buy while also... More

Chipotle Mexican Grill (CMG) PT Lowered to $59 at Evercore ISI

Evercore ISI analyst David Palmer lowered the price target on Chipotle Mexican Grill (NYSE: CMG) to $59.00 (from $65.00) while maintaining a Outperform rating.

The analyst comments "We are trimming our target multiple for Chipotle due to the CEO transition. Although we have the... More

Wedbush Upgrades Chipotle Mexican Grill (CMG) to Outperform, 'can sustain market share gains'

(Updated - August 14, 2024 6:10 AM EDT)

Wedbush analyst Nick Setyan upgraded Chipotle Mexican Grill (NYSE: CMG) from Neutral to Outperform with a price target of $58.00 (from $54.00).

The analyst comments "We continue to believe CMG can sustain market share gains in a more... More

Stifel Reiterates Buy Rating on Chipotle Mexican Grill (CMG)

Stifel analyst Chris O\'Cull reiterated a Buy rating and $70.00 price target on Chipotle Mexican Grill (NYSE: CMG)

The analyst comments "Our View: We maintain our Buy following the announcement that CEO Brian Niccol is leaving to become CEO of Starbucks. The strategic... More

Deutsche Bank Defends Chipotle Mexican Grill (CMG): 'outsized pullback as a buying opportunity'

Deutsche Bank analyst Lauren Silberman reiterated a Buy rating and $67.00 price target on Chipotle Mexican Grill (NYSE: CMG)

The analyst comments "On 8/13, CMG announced that Chairman and CEO Brian Niccol would be stepping down, effective 8/31, as he has accepted the role as Chairman and CEO of... More

Starbucks hires Chipotle's Niccol as its sixth CEO

(Reuters) - Starbucks on Tuesday named Chipotle Mexican Grill's Brian Niccol as its new CEO, replacing Laxman Narasimhan, who was at the helm for close to a year and a half, the shortest span for a top boss at the global coffee chain.

Niccol will become only the sixth CEO at the company over its 50-plus-year history, with founder Howard Schultz leading the company for 23 years in three separate stints and helping to create a behemoth in the fast-food industry.

Chipotle stock price plunges as CEO to leave and join Starbucks

Chipotle Mexican Grill (NYSE: CMG) saw its shares plunge by more than 13% on Monday following the announcement that Brian Niccol, the company's Chairman and CEO, will be leaving to become the new CEO of Starbucks (NASDAQ: SBUX).

The stock drop reflects investor concerns over the potential impact of Niccol's departure on Chipotle's ongoing turnaround efforts. Meanwhile, Starbucks shares surged over 22%.

Niccol, who has been... More

Morgan Stanley's Take on Starbucks' (SBUX) New CEO

Morgan Stanley analyst Brian Harbour reiterated an Overweight rating and $98.00 price target on Starbucks (NASDAQ: SBUX).

The analyst comments "Our take: Sometimes, but not often, we, and even perhaps the most jaded among us, arrive at work to a genuine surprise. Given the challenges SBUX has faced lately and Niccol's track record at CMG, both fundamentally and as reflected in the stock price, we think this will be viewed as an unmitigated positive for SBUX. We have remained OW SBUX, despite challenges, on the view there was impetus for change, the... More

Chipotle Mexican Grill (CMG) call put ratio 1 to 1 after CEO leaves for Starbucks (SBUX)

Chipotle Mexican Grill (NYSE: CMG) 30-day option implied volatility is at 44; compared to its 52-week range of 15 to 54 after CEO leaves for Starbucks (SBUX). Call put ratio 1 call to 1 put on 133K contracts.

Truist Securities Incrementally Negative on Chipotle Mexican Grill (CMG)

Truist Securities analyst Jake Bartlett reiterated a Buy rating and $69.00 price target on Chipotle Mexican Grill (NYSE: CMG).

The analyst comments "We view the surprise announcement of CMG's CEO (Brian Niccol) as an incremental negative for the stock, but not thesis changing... More

Stifel on Starbucks (SBUX) New CEO: 'Niccol clearly has much to offer the company'

Stifel analyst Chris O\'Cull reiterated a Hold rating and $80.00 price target on Starbucks (NASDAQ: SBUX)

The analyst comments "Our View: Brian Niccol will join Starbucks as chairman and CEO, effective September 9, with Rachel Ruggeri serving as interim CEO until that time.... More

Midday movers:Chipotle Mexican Grill, Tencent Music fall; Starbucks rises

(Updated - August 13, 2024 11:59 AM EDT)

Investing.com -- U.S. stock futures climbed Tuesday after data showed U.S. producer prices rose less than expected in July, boosting hopes for a rate cut from the Fed as soon as September.

Here are some of the biggest U.S. stock movers today:

Home Depot (NYSE: HD) stock rose 1% despite the home improvement retailer... More