Chipotle Mexican Grill Stock Has 15% Upside, According to 1 Wall Street Analyst
Chipotle Mexican Grill (NYSE: CMG) is coming off a solid year of growth, and analysts at expect the company will file a report that keeps the momentum going when it releases first-quarter results on April 24.
Citi maintained a buy rating on the shares but raised the price target from $3,016 to $3,358, or a 15% upside over the next 12 months or so from the current share price of $2,918.
Of course, the price target is not as relevant to a long-term investor as much as the reason behind the call. The analyst believes the company's initiatives to improve traffic flow in restaurants should continue to drive strong same-store sales growth.
Source Fool.com
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