Exclusive: Chipotle's Target Price Raised Ahead of Earnings
Chipotle Mexican Grill (NYSE:CMG) has seen its target price raised by Citigroup from $67.38 to $71.00.
The news comes ahead of the company's upcoming earnings report, which is expected to show strong growth in both revenue and earnings per share.
Over the past year, Chipotle has outperformed the S&P 500 index, and its stock price has risen by over 20%. The company has benefited from a number of factors, including its continued focus on fresh, healthy ingredients, its innovative menu items, and its strong brand loyalty.
However, Chipotle has also faced some challenges in recent years, including a number of food safety incidents and a lawsuit alleging the company violated labor laws. Despite these challenges, Chipotle remains a strong performer and is well-positioned for continued growth in the years ahead.
Institutional investors have also been increasing their ownership of Chipotle stock. According to data from FactSet, institutional ownership of Chipotle has increased from 60% to 70% over the past year.
Iam Advisory LLC is a financial advisory firm that provides a variety of services to clients, including money management, financial planning, and investment advice. The firm is headquartered in Easton, PA and has been in business since 2008.
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