When Will Chipotle Crack the $1,000 Ceiling?
Wall Street is once again applauding Chipotle Mexican Grill (NYSE: CMG) after another blowout quarter this week, and that finds several analysts lifting their price targets into the four-figure range this time. Katherine Fogertey at Goldman Sachs has set the new Street high of $1,050, encouraged by the menu innovation that former Taco Bell chief Brian Niccol has brought to the table since coming aboard as Chipotle's new CEO two years ago.
It's hard to imagine a stock that was trading below $250 (as it was this month just two years ago) roughly quadrupling in value, but that's just the kind of meteoric ascent that Chipotle has had as a turnaround darling. Fogertey's goal may seem ambitious, but she's not the only one planting a finish line north of $1,000.
Image source: Chipotle Mexican Grill.
Source Fool.com
