Chipotle Mexican Grill "outperform," target price raised

05/02/07 - Robert W. Baird

NEW YORK, May 2 (newratings.com) - Analysts at Robert W Baird maintain their "outperform" rating on Chipotle Mexican Grill (CMG), while raising their estimates for the company. The target price has been raised from $80 to $85.

In a research note published this morning, the analysts mention that the company has reported its 1Q EPS ahead of the estimates and the consensus, driven by 8.3% comps growth. Chipotle Mexican Grill has raised its comps growth guidance for 2007 from low-to-mid single-digit to mid-to-high single-digit. The EPS estimates for FY07 and FY08 have been raised from $1.60 to $1.70 and from $2.00 to $2.12, respectively.