J.P. Morgan Raises Estimates In Chipotle Mexican Grill

According to J.P. Morgan, Chipotle Mexican Grill CMG posted 2Q EPS of $1.64 (excluding 5c TV concept investment charge) vs. $1.46 last year, its $1.66 expectation, and Bloomberg consensus of $1.67. J.P. Morgan said that comps of 10% helped EPS by $0.08, accelerating vs. 1Q11's 12.4% despite over 4 points more difficult comparisons. “We raise our estimate for F11 EPS from $6.84 to $6.92 and F12 from $8.65 to $8.86.” Chipotle Mexican Grill closed yesterday at $333.71.