Should Investors Sell Chipotle Shares and Buy Cava Group Stock Instead?
When it comes to the success of restaurants, few have outpaced Chipotle Mexican Grill (NYSE: CMG). Since debuting at $22 per share in 2006, it has risen more than 4,000% as the chain offered healthy fast-food options to virtually all corners of the U.S. and began an expansion into Canada and Europe.
Nonetheless, Cava Group (NYSE: CAVA), which some regard as the Mediterranean food version of Chipotle, debuted in June and reported massive revenue growth in its first quarterly report. Does that mean it is time to abandon Chipotle in favor of the new restaurant stock?
Cava Group has given back all of its gains since launching its initial public offering (IPO). However, it received a temporary bump after reporting 27% revenue growth in the second quarter of fiscal 2023 (ended July 9).
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 5314.62% increase which would mean more than doubling the current price of 45.77 € for Chipotle Mexican Grill Inc..
