Chipotle Stock in 2023: Bull vs. Bear
Chipotle Mexican Grill (NYSE: CMG) seemingly had no issue navigating the coronavirus pandemic, as it leaned on its digital capabilities to find ways to serve hungry customers, boosting sales and profit along the way. This positive performance is evident in the stock price, which is up 73% over the past three years, despite falling 21% in 2022.
But what's on the horizon for this Tex-Mex chain? Here are the bear and bull cases for this seemingly unstoppable restaurant stock.
As many businesses struggled with tough year-over-year comparisons and macroeconomic headwinds like high inflation and interest rates, Chipotle's growth remains superb. The business increased revenue 13.7% in the third quarter, with diluted earnings per share rising 28.1%. Same-store sales were up 7.6%, proving that existing locations are also growing.
Source Fool.com
