Cowen analyst Andrew Charles said Chipotle margins have seen headwinds from industry commodity and labor inflation, that has led to the highest level of pricing in 40 years. Chipotle has guided to 27% restaurant margins at $3 million sales volumes, which both we and consensus forecast will be achieved in 2024. Cowen maintains its Outperform rating and $2040 price target on Chipotle shares.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on CMG:
- Chipotle price target raised to $1,900 from $1,800 at Argus
- Chipotle price target lowered to $1,850 from $1,900 at RBC Capital
- Chipotle price target lowered to $1,800 from $1,825 at Truist
- Chipotle price target raised to $2050 from $1950 at Cowen
- Chipotle price target raised to $2,050 from $1,950 at Credit Suisse