Analysts’ Reactions Were Mixed after Chipotle’s Investor Call
On June 28, Chipotle Mexican Grill (CMG) was trading at $428.36. After Chipotle’s special investor call on June 27, Canaccord Genuity raised the stock’s price target from $425 to $500, while Morgan Stanley increased its price target from $340 to $372. Of the 32 analysts that follow Chipotle, 25% are favoring “buys,” 68.8% are favoring “holds,” and 6.3% are favoring “sells” on the stock.