Guggenheim has revised its outlook on Chipotle Mexican Grill (CMG, Financial), reducing the price target from $56 to $48 while maintaining a Neutral rating on the stock. This adjustment comes as the firm observes a slowdown in traffic trends during the recent quarter, continuing into the early part of the second quarter.
In anticipation of Chipotle's upcoming earnings release, Guggenheim has also lowered its earnings per share (EPS) estimates. The firm expects Chipotle to revise its growth projections for same-store sales to a range between flat and low-single-digit positive percentages for the year. Investors will be watching closely to see how these developments play out in the company's financial report set to be released tomorrow evening.
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 $63.00 with a high estimate of $73.00 and a low estimate of $46.12. The average target implies an upside of 35.40% from the current price of $46.53. 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 30.37% from the current price of $46.53. 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.
