3 Reasons Why Queso May Save the Day at Chipotle
Your fresh but not-so-healthy meal at Chipotle Mexican Grill (NYSE: CMG) is apparently about to get more decadent. The out-of-favor burrito chain has been testing queso -- the gooey cheese that's a staple at table-service Mexican chains as well as many of the Chipotle's fast-casual rivals -- in recent weeks, and it could go nationwide in two weeks.
Credit Suisse analyst Jason West's store checks indicate that queso will go national on Sept. 12. It is currently being tested at hundreds of locations in California and Colorado as well as its Chipotle NEXT Kitchen test concept store in New York City. West feels that queso could help spark an uptick in sales, but it's not enough to sway him from his neutral position. He is sticking to his $320 price target.
However, let's give queso the benefit of the doubt for a company that can surely use a break. The new menu addition can be a game changer for a company hungry for a catalyst after seeing its stock lose more than half of its value since peaking two years ago. Let's go over the reasons why Chipotle's next move could be its biggest move.
Source: Fool.com
Chipotle Mexican Grill Inc. Stock
The stock is one of the favorites of our community with 73 Buy predictions and 1 Sell predictions.
With a target price of 2425 € there is potential for a 5184.95% increase which would mean more than doubling the current price of 45.89 € for Chipotle Mexican Grill Inc..
