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published in Blogs
May 27, 2021
Chipotle (CMG, $1,364.84) stock gets rating boost from Stephens analyst

Chipotle (CMG, $1,364.84) stock gets rating boost from Stephens analyst

Chipotle Mexican Grill  got a rating boost from Stephens analyst James Rutherford, to overweight from equal weight.

Rutherford also hiked his share-price target to $1,700 from $1,600. This implies 26% upside from Wednesday's closing price

The analyst cited same-store sales long-term growth prospects, strong presence in the suburbs, and near-term sales drivers including reopening, new long-term opportunities (brisket being tested), digital growth, a return of dine-in sales, a bigger ad budget as some of the factors behind the improved outlook on the shares.

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