Chipotle Gets Price Target Hikes By Analysts Following Better-Than-Expected Q1 Earnings

Chipotle Mexican Grill, Inc. CMG reported upbeat first-quarter financial results.

Chipotle reported quarterly earnings of $10.50 per share, which came in ahead of the $8.91 consensus estimate, on revenues of $2.4 billion, which came in ahead of the $2.34 billion consensus estimate.

Management said the second quarter and full-year comparable restaurant sales growth are expected to reach mid to high-single digit figures.

Chipotle shares rose 7.4% to $1,912.00 in pre-market trading.

These analysts made changes to their price targets on Chipotle following earnings announcement.

• Keybanc raised the price target on Chipotle from $1,870 to $2,050. Keybanc analyst Eric Gonzalez maintained an Overweight rating.
• TD Cowen increased the price target on Chipotle from $2,050 to $2,200. TD Cowen analyst Andrew Charles maintained an Outperform rating
• Barclays increased the Chipotle price target from $1,550 to $1,885. Barclays analyst Jeffrey Bernstein maintained an Equal-Weight rating on the stock.
• Wedbush raised Chipotle price target from $2,080 to $2,200. Wedbush analyst Nick Setyan maintained the stock with an Outperform rating.
• Stifel increased the price target on Chipotle from $2,000 to $2,100. Stifel analyst Chris O'Cull maintained the stock with a Buy.
• Stephens & Co. boosted price target on Chipotle from $1,970 to $2,000. Stephens & Co. analyst Joshua Long maintained an Overweight rating on the stock.
• Credit Suisse raised price target on Chipotle from $2,050 to $2,200. Credit Suisse analyst Lauren Silberman maintained the stock with an Outperform.
• Raymond James boosted Chipotle price target from $1,900 to $2,100. Raymond James analyst Brian Vaccaro maintained the stock with an Outperform.
• Baird increased Chipotle price target from $2,000 to $2,200. Baird analyst David Tarantino maintained the stock with an Outperform.

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