A New CEO Won't Save Chipotle
There's finally a change at the top for Chipotle Mexican Grill (NYSE: CMG), as CEO Stephen Ells will be stepping down after a suitable replacement is found. The founder CEO will then assume the role of executive chairman.
Shares of Chipotle opened sharply higher on Wednesday morning's news, just as a losing team's fan base rallies when a new head coach is tapped. However, a bad team is still a bad team -- and an out-of-favor burrito roller is going to continue to be an out-of-favor burrito roller. If you're holding out for a wizard to magically turn things around the way that Steve Easterbook did at former Chipotle parent McDonald's (NYSE: MCD), you're being naive about where the chain was when its popularity and stock peaked two years ago, where it is now, and the realistic potential of where it will be in the future.
Source: Fool.com
Chipotle Mexican Grill Inc. Stock
With 73 Buy predictions and 1 Sell predictions Chipotle Mexican Grill Inc. is one of the favorites of our community.
Based on the current price of 45.89 € the target price of 2425 € shows a potential of 5184.95% for Chipotle Mexican Grill Inc. which would more than double the current price.