Wall Street has an appetite for Chipotle Mexican Grill (NYSE: CMG) stock again. While the S 500 has declined in recent weeks, the casual dining specialist is on a tear. Shares are up nearly 40% so far in 2023 compared to a 7% uptick in the wider market.

A lot of that enthusiasm can be traced to Chipotle's strong third-quarter earnings report, which showed improving demand trends and rising profit margins in a rocky economic environment for consumer spending. Let's take a look at some fresh reasons to like the stock following that announcement.

Chipotle is having no trouble attracting more diners. Comparable-store sales were up 5% in the Q3 period that ran through late September. Management credited better hiring and training practices, food quality, and faster service for that success. "Chipotle's value proposition ... is stronger than ever," CEO Brian Niccol said in a press release.

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Source Fool.com