Chipotle Just Smashed Wall Street's Expectations: 2 Big Ingredients Investors Can Thank for Its Success
On Feb. 7, shares of restaurant chain Chipotle Mexican Grill (NYSE: CMG) soared to new all-time highs. The company just reported completed financial results for 2023. And in response, the market was willing to push the stock past a market capitalization of $73 billion.
Much could be said about business for Chipotle in 2023 -- it certainly smashed Wall Street's expectations. Here are two things that contributed to its success in its most recent quarter.
A restaurant chain such as Chipotle can measure profitability various ways, but many companies in this industry like to separate corporate expenses from those incurred inside the four walls of its restaurants. This can help distinguish between a company's overall profitability and unit-level economics.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
The stock is one of the favorites of our community with 77 Buy predictions and 1 Sell predictions.
With a target price of 2357 € there is potential for a 4585.88% increase which would mean more than doubling the current price of 50.3 € for Chipotle Mexican Grill Inc..
