Chipotle to Open in the Middle East: Could This Magnificent Growth Stock Skyrocket Even More?
Since going public in early 2006, shares of restaurant chain Chipotle Mexican Grill (NYSE: CMG) are up more than 4,700%, turning a $10,000 investment into nearly half a million dollars. Underpinning these magnificent returns has been the company's impressive growth. At the end of 2005 it had 481 locations whereas today it has over 3,200.
The expansion of the chain drove market-crushing returns for Chipotle stock. But investors are rightly concerned about how much bigger this chain can get. And if it can't keep expanding, then maybe its days of good returns are coming to an end.
Chipotle shareholders just received pertinent news on this topic. The company has signed a development agreement in the Middle East, kicking management's international-expansion plans into high gear. Here's what it means for investors.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
The stock is one of the favorites of our community with 70 Buy predictions and 1 Sell predictions.
With a target price of 2478 € there is potential for a 5275.27% increase which would mean more than doubling the current price of 46.1 € for Chipotle Mexican Grill Inc..
