Bank of America Merrill Lynch Maintains Neutral on Chipotle Mexican Grill

Bank of America Merrill Lynch is out with its report today on Chipotle Mexican Grill CMG, maintaining Neutral. In a note to clients, Bank of America Merrill Lynch writes, "We continue to rate CMG shares Neutral with a $326 price objective following our investor visit to Chipotle's Denver headquarters. The fundamental story at CMG remains strong with double digit unit growth, improving returns from lower cost A-Model units and greater new store productivity, and same store sales momentum." At the time of posting, shares of CMG were trading pre-market at $307.43, up 0.89% from Tuesday's close.