Will Chipotle's Q3 Be as Bad as Its Queso?
![Will Chipotle's Q3 Be as Bad as Its Queso? Will Chipotle's Q3 Be as Bad as Its Queso?](http://g.foolcdn.com/editorial/images/459796/screen-shot-2017-08-29-at-110455-am.png)
We're now a week away from Chipotle Mexican Grill (NYSE: CMG) cracking open the lid on its third-quarter financials, and Wall Street pros continue to scramble away from the thinning bullish camp ahead of the numbers. Three more analysts chimed in on Wednesday, feeling less than enthused about the burrito roller's near-term prospects.
Gregory Francort at BofA/Merrill downgraded the stock to underperform, slashing his price target from $390 to $285. He fears that Chipotle's guidance next week could disappoint, and he's concerned that Wall Street's profit targets for next year are being propped up by unrealistic margin projections. He credits Chipotle for doing a good job in managing labor costs in the near term, but he believes it will be challenging to build on that.
Brett Levy at Deutsche Bank is sticking to his earlier sell rating and $250 price target after sizing up the bullish case for the stock. The rollout of queso and easy comps following last year's brutal drop in sales could result in a near-term uptick in sales, but he still feels there are operational, financial, valuation, and even brand issues weighing on its growth prospects for investors.
Source: Fool.com
Chipotle Mexican Grill Inc. Stock
The stock is one of the favorites of our community with 77 Buy predictions and 1 Sell predictions.
With a target price of 2357 € there is potential for a 4548.0% increase which would mean more than doubling the current price of 50.71 € for Chipotle Mexican Grill Inc..