Gordon Haskett sees slight Q2 earnings miss from Chipotle

Gordon Haskett expects Chipotle (CMG) to report a small Q2 miss on earnings with in-line same-store-sales and Q3 restaurant-level margin outlook before expectations. The firm’s analysis of card sales and foot traffic data indicates a “healthy improvement” in Chipotle’s May and June trends relative to April. The analyst continues to view Chipotle as one of the best positioned companies in the sector and keeps a Buy rating on the shares with a $62 price target