Prediction: Chipotle Stock Could Pop Next Week
An unexpected winner throughout the coronavirus pandemic has been none other than Chipotle Mexican Grill (NYSE: CMG). The fast-casual restaurant pioneer was thriving before the health crisis, but thanks to its convenience, value proposition, and popularity, the business has performed tremendously well over the past couple years, quickly growing revenue and profits.
Chipotle reports Q2 2022 financial results on Tuesday, July 26. If it can once again announce stellar numbers, then the stock, which is down 22% this year, should react positively.
Chipotle is facing a difficult year-ago comparison for the just-ended quarter as sales jumped 38.7% in Q2 2021, the fastest growth rate in at least the past decade. According to consensus estimates from Wall Street analysts, Chipotle is expected to report revenue of just over $2.2 billion for the latest quarter, good for a year-over-year increase of 18.7%. Posting that type of gain would prove that Chipotle is firmly still a growth stock.
Source Fool.com
