Truist Financial Remains a Buy on Chipotle (CMG)

Truist Financial analyst Jake Bartlett maintained a Buy rating on Chipotle (CMGResearch Report) on October 12 and set a price target of $2,280.00. The company’s shares closed last Friday at $1,781.48.

According to TipRanks, Bartlett is a 5-star analyst with an average return of 15.3% and a 54.71% success rate. Bartlett covers the Consumer Cyclical sector, focusing on stocks such as Texas Roadhouse, Wendy’s, and Wingstop.

Chipotle has an analyst consensus of Strong Buy, with a price target consensus of $2,211.71, a 24.15% upside from current levels. In a report released on October 11, Stephens also maintained a Buy rating on the stock with a $2,330.00 price target.

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Based on Chipotle’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.51 billion and a net profit of $341.79 million. In comparison, last year the company earned a revenue of $2.21 billion and had a net profit of $259.94 million

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Chipotle (CMG) Company Description:

Chipotle Mexican Grill, Inc. is a Mexican food restaurant chain operator. It engages in the development and operation of fast-casual, fresh Mexican food restaurants throughout the United States. It offers a focused menu of burritos, burrito bowls, tacos, and salads cooked through traditional methods and served in a unique atmosphere.

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