3 Reasons Chipotle Stock Won't Hit $758 Anytime Soon
There were plenty of reasons to brace for a rough third quarter at Chipotle Mexican Grill (NYSE: CMG), and that's just what investors got on Tuesday afternoon. Between another food-borne illness outbreak early in the quarter and the market's chilly reaction to the queso rollout during the tail end of the period, there's a reason why at least seven analysts slashed their price targets on the shares last week. Wall Street was skittish, and it was the right call.
The rough performance sent Chipotle stock down to another four-year low on Wednesday, and it's easy to wonder if the shares will ever revisit their all-time peak of $758.61 set two summers ago. Anything is possible, but Chipotle doesn't seem likely to establish new all-time highs in the next couple years. Let's go over a few of the reasons why it's going to be a long road back for the out-of-favor burrito roller.
Image source: Chipotle.
Source: Fool.com
Chipotle Mexican Grill Inc. Stock
The stock is one of the favorites of our community with 63 Buy predictions and 1 Sell predictions.
With a target price of 2576 € there is potential for a 4021.6% increase which would mean more than doubling the current price of 62.5 € for Chipotle Mexican Grill Inc..
