Bank of America has revised its price target for Chipotle Mexican Grill (CMG, Financial), reducing it to $64 from a previous target of $71, while maintaining a Buy rating on the stock. This adjustment is part of a broader evaluation by the firm, which involves fine-tuning estimates for more than 20 companies within its restaurant sector coverage.
The updated targets and estimates reflect anticipated changes in market multiples and current performance trends as analyzed in the firm's preliminary outlook for the first quarter of the calendar year. Despite the reduction in the price target, Chipotle remains a favorable investment in the eyes of Bank of America, as indicated by the retention of the Buy rating.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 31 analysts, the average target price for Chipotle Mexican Grill Inc (CMG, Financial) is $63.75 with a high estimate of $73.00 and a low estimate of $46.12. The average target implies an upside of 32.34% from the current price of $48.17. More detailed estimate data can be found on the Chipotle Mexican Grill Inc (CMG) Forecast page.
Based on the consensus recommendation from 36 brokerage firms, Chipotle Mexican Grill Inc's (CMG, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Chipotle Mexican Grill Inc (CMG, Financial) in one year is $60.66, suggesting a upside of 25.93% from the current price of $48.17. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Chipotle Mexican Grill Inc (CMG) Summary page.
