Cowen & Co. Maintains an Outperforming Rating for Chipotle Mexican Grill: Here’s What You Need to Know

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Cowen & Co. decided to maintain Chipotle Mexican Grill’s outperform rating GCM and lowering its price target from $1950.00 to $1830.00.

Shares of Chipotle Mexican Grill are trading up 2.75% in the past 24 hours to $1,477.70 per share.

A move to $1,830.00 would represent a 23.84% increase over the current stock price.

About Chipotle Mexican Grill

Chipotle Mexican Grill is the largest fast-food restaurant chain in the United States, with system-wide sales of $7.5 billion in the last twelve months. The Mexican concept is wholly owned by the company, with a footprint of nearly 3,000 stores at the end of 2021 heavily pegged in the US, although the company maintains a small presence in Canada, UK, France and in Germany. Chipotle sells burritos, burrito bowls, tacos, quesadillas and beverages, with a selling proposition based on competitive pricing, high-quality food supply, speed of service and convenience. The company derives its revenue entirely from restaurant sales and delivery charges.

About analyst ratings

Analysts work in banking and financial systems and typically specialize in reporting on stocks or defined sectors. Analysts can attend company conference calls and meetings, research company financials, and communicate with insiders to issue “analyst notes” for stocks. Analysts typically rate each stock once a quarter.

Some analysts will also offer forecasts for metrics such as growth estimates, earnings, and revenue to provide additional stock insights. Investors using analyst ratings should note that this expert advice is human-sourced and may be subject to error.

If you want to track which analysts are outperforming others, you can view updated analyst ratings as well as analyst pass scores in Benzinga Pro.

This article was generated by Benzinga’s automated content engine and reviewed by an editor.

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