- Goldman Sachs (NYSE:GS) issues an assessment on how the highly-anticipated roll-out of queso offerings at Chipotle (NYSE:CMG) restaurants is progressing.
- "We believe muted interest surrounding the national rollout suggests a limited comp benefit in the quarter, and negative comments also suggest few customers will become repeat consumers," warns analyst Karen Holthouse.
- The investment firm has a Neutral rating and $360 price target on Chipotle, so the queso assessment isn't necessarily biased to the downside.
- Maxim Group also says the queso introduction didn't overwhelm consumers, but is still positive on the restaurant stock due to the upside from the digital business. Maxim rates Chipotle at Buy and has a lofty price target of $435 (44% upside potential).
- Sources: Bloomberg and StreetInsider.com
- Shares of Chipotle are down 0.39% to $300.70 vs. a 52-week trading range of $295.11 to $499.00. The $295.11 low was printed earlier today.
- Now read: Chipotle And The Final Straw
Original article