Chipotle Is Up Over 120-Fold Since Its IPO. Here's Why It Will Probably Keep Making Investors Richer.
Chipotle Mexican Grill (NYSE: CMG) has been one of the more stellar investments in the restaurant space over the past decade. It launched its initial public offering (IPO) 18 years ago at $22 per share, and as it expanded and deepened its footprint in the U.S., it has grown to nearly 3,400 locations across the country.
That impressive expansion has resulted in gains of more than 120-fold for shareholders who bought at the IPO and held. Despite that stunning growth, the restaurant stock will likely continue making its investors richer. Here's why.
As of the end of 2023, Chipotle operated 3,437 locations, though all but 67 of these restaurants are in the U.S. The company added 250 net locations in 2023 -- and despite that massive footprint, its North American expansion is not likely to level off anytime soon.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
The stock is one of the favorites of our community with 59 Buy predictions and 1 Sell predictions.
With a target price of 3060 € there is a slightly positive potential of 6.99% for Chipotle Mexican Grill Inc. compared to the current price of 2860.0 €.
