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Chipotle -15% as recovery hopes fade

Published 10/25/2017, 11:03 AM
© Reuters.  Chipotle -15% as recovery hopes fade
CSGN
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CMG
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  • Chipotle (NYSE:CMG) is down 14.81% to fall to its lowest level since early in 2013.
  • The restaurant chain's ability to return comparable sales growth and margins back to pre-health crisis levels is being widely questioned.
  • Credit Suisse (SIX:CSGN) analyst Jason West sums up the mood from Wall Street on the restaurant stock: "Despite some sales lift from queso and pricing, we view this result and outlook as disappointing, particularly for those looking for a more meaningful recovery following multiple food safety events."
  • CS lowered its price target on CMG to $275 from $320.
  • Other PT revisions: Wells to $280, Wedbush to $290, RBC Capital to $320, SunTrust to $355, Cowen to $240, Canaccord Genuity to $325.
  • Previously: Chipotle limps in with Q3 results (Oct. 24)
  • Sources: Bloomberg, CNBC and StreetInsider.com
  • Now read: Buy Chipotle - No, Really, Buy Chipotle


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