Could Chipotle Stock Hit $2,000 in 2023?
While many restaurants struggled to get by during the pandemic, Chipotle Mexican Grill (NYSE: CMG) absolutely thrived, expanding its store footprint and increasing revenue and net income. But 2022 wasn't a great year for the stock, as it lost 21% of its value during the 12-month stretch. Investors are hoping that even in the face of a softer macroeconomic environment, shares will bounce back this year.
Is Chipotle poised to significantly reward shareholders? Continue reading to find out if the stock can hit the $2,000 mark in 2023.
Based on its recent price (as of Jan. 23) of $1,570, if Chipotle hits $2,000 by the end of the year, that would be an outstanding gain of 27%. This would easily crush the S&P 500's historical average annual return of 10%, but it would lag Chipotle's trailing-five-year average annual return of 37%. Nonetheless, that kind of performance would certainly please investors.
Source Fool.com
