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Why Chipotle's Stock Is Trading Higher Today

Chipotle Mexican Grill Inc (NYSE: CMG) is trading significantly higher Wednesday after the company announced better-than-expected financial results. 

Chipotle reported second-quarter earnings of $7.46 per share, which beat the estimate of $6.49 per share. The company reported quarterly revenue of $1.89 billion, which beat the estimate of $1.88 billion. Chipotle also authorized a $200 million stock buyback.

“We remain confident in our key growth strategies and believe they will help us achieve our next goal of $3 million average unit volumes with industry leading returns on invested capital that improve as we continue to add Chipotlanes,” said Brian Niccol, chairman and CEO of Chipotle.

Analyst Assessment: Multiple analyst firms increased their price targets on Chipotle following its earnings report.

  • Keybanc analyst Eric Gonzalez maintained Chipotle with an Overweight rating and raised the price target from $1800 to $1850.
  • Stephens & Co. analyst James Rutherford maintained Chipotle with an Overweight rating and raised the price target from $1700 to $1850.
  • Cowen & Co. analyst Andrew Charles maintained Chipotle with an Outperform rating and raised the price target from $1850 to $2080.
  • Morgan Stanley analyst John Glass maintained Chipotle with an Equal-Weight rating and raised the price target from $1602 to $1646.
  • Barclays analyst Jeffrey Bernstein maintained Chipotle with an Equal-Weight rating and raised the price target from $1530 to $1600.
  • Credit Suisse analyst Lauren Silberman maintained Chipotle with an Outperform rating and raised the price target from $1950 to $2075.
  • BMO Capital analyst Andrew Strelzik maintained Chipotle with a Market Perform rating and raised the price target from $1460 to $1750.
  • UBS analyst Dennis Geiger maintained Chipotle with a Buy rating and raised the price target from $1700 to $1850.

Price Action: Chipotle is making a new 52-week high in trading today.

At last check Wednesday, the stock was up 9.60% at $1,725.43.

Latest Ratings for CMG

Date Firm Action From To
Jul 2021 UBS Maintains Buy
Jul 2021 BMO Capital Maintains Market Perform
Jul 2021 Credit Suisse Maintains Outperform

View More Analyst Ratings for CMG

View the Latest Analyst Ratings

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