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.
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