Here's What's Behind Chipotle Stock's 47% Gain This Year
Believe it or not, shares of Chipotle Mexican Grill (NYSE: CMG) are up an incredible 47% in 2023 alone. This compares to a 7.7% gain for the S 500 during this same period. Chipotle has been flexing its pricing power, driving increased traffic to its stores even as it raises its prices. Investors apparently love what Chipotle is doing. The restaurant's resilient sales growth during a challenging macroeconomic environment is a testament to the burrito maker's appeal to both existing and new customers.
Here's a closer look at some of the key drivers behind Chipotle's shockingly robust growth in 2023.
Perhaps the most likely reason Wall Street has been bullish on Chipotle stock is that revenue growth has accelerated significantly this year. First-quarter revenue rose 17.2% year over year, up from the 11.2% growth Chipotle reported in the fourth quarter of last year and 14.4% growth for the full year of 2022.
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 5278.19% increase which would mean more than doubling the current price of 46.08 € for Chipotle Mexican Grill Inc..
