After Its Historic Stock Split, Should You Buy Chipotle Stock for the Second Half of 2024?
Perhaps no restaurant has made a stronger comeback than (NYSE: CMG) over the last decade. After dealing with a huge food safety crisis in 2015, the fast-casual leader is now stronger than ever as it closes in on 3,500 stores with impressive unit volumes. It brought on a new CEO, Brian Niccol, in 2018 to steer the business, which has paid off handsomely.
Over the last 10 years, Chipotle has posted a 382% total return, and in late June, the company executed a historic 50-to-1 stock split. What does the stock have in store for the rest of 2024? Let's take a look and find out.
The Chipotle model is simple: Open more stores, increase customer traffic, and increase menu prices. This all leads to revenue and profit growth. Last quarter, Chipotle's revenue grew an impressive 14% year over year. This was driven by new store openings but also by 7% same-store sales growth, a solid number for any restaurant concept.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
With 64 Buy predictions and 1 Sell predictions Chipotle Mexican Grill Inc. is one of the favorites of our community.
Based on the current price of 48.96 € the target price of 2555 € shows a potential of 5119.08% for Chipotle Mexican Grill Inc. which would more than double the current price.
