Where Will Chipotle Stock Be in 3 Years?
Despite the coronavirus pandemic and the current economic backdrop of high interest rates and inflation, which you'd assume would derail most businesses, Chipotle Mexican Grill (NYSE: CMG) has continued posting stellar growth on both the top and bottom lines over the past few years. As a result, it's no wonder the stock price has soared a remarkable 69% since the start of 2020, nearly tripling the S&P 500's total return during the same time.
What has happened in a company's past is certainly important. But investors are understandably more focused on the future. In the same vein, where will this popular Tex-Mex restaurant stock be in three years?
Chipotle investors have been accustomed to a business that seemingly thrives no matter the economic environment. In 2020, the year the pandemic rattled the economy and markets, Chipotle was still able to increase sales 7.1% and open 146 net new restaurants. Leaning heavily on investments in its tech infrastructure, digital sales jumped 174.1% that year compared to 2019 and accounted for 46.2% of overall revenue.
Source Fool.com
