Chipotle Mexican Grill, Inc.'s (NASDAQ: CMG) first-quarter results earned praise from analysts and investors, as the stock traded higher by more than 12%.
Chipotle reported quarterly earnings of $3.08 per share, which beat the analyst consensus estimate of $2.90. The company reported quarterly sales of $1.4 billion, which missed the analyst consensus estimate of $1.42 billion. This is a 7% increase over sales of $1.308 billion the same period last year.
The Chipotle Analysts
Morgan Stanley analyst John Glass maintains an Equal-Weight rating on Chipotle's stock with a price target lifted from $602 to $630.
Wedbush's Nick Setyan maintains at Outperform, price target lifted from $860 to $870.
KeyBanc Capital Markets analyst Eric Gonzalez maintains at Overweight, price target lifted from $790 to $955.
Morgan Stanley: What We Know And Don't Know
Chipotle's report shows the business is "more durable" than expected and there are several takeaways related to what we know and don't know, Glass wrote in a note.
The business is on a "firmer footing" compared to its peers, with comps trending lower in the ...
