UBS analyst Dennis Geiger lowered the firm’s price target on Chipotle (CMG) to $65 from $70 and keeps a Buy rating on the shares. The firm says that despite anticipated sales pressure year-to-date and what it views as a difficult setup into Q1 earnings, Chipotle is positioned for continued traffic and sales momentum longer term, w/ a more favorable sales and margin setup in the second half of the year. The company remains positioned for positive transaction growth longer-term and ongoing margin expansion opportunities and accelerating unit development, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CMG:
- Chipotle’s Resilience and Growth Potential Amidst Market Challenges: A Buy Recommendation
- Chipotle price target lowered to $60 from $64 at KeyBanc
- Chipotle price target lowered to $67 from $70 at Morgan Stanley
- Chipotle price target lowered to $65 from $70 at RBC Capital
- Positive Outlook for Chipotle Amid Short-Term Challenges and Long-Term Growth Potential