Chipotle Stock: A Tale of Two Price-Target Hikes
Chipotle Mexican Grill (NYSE: CMG) is getting a double dose of Wall Street love on Tuesday. Analysts at JPMorgan and Loop Capital are boosting their price targets on the "food with integrity" fast-casual chain. Increases in price goals are always welcome, but John Ivankoe at JPMorgan and Lynne Collier at Loop Capital are far apart here.
The bullish Collier is lifting her price target from $1,400 to $1,600. The neutral Ivankoe is going from $1,040 to $1,115 in his update. We'll get into the reasons for each revision shortly, but for now, it's important to remember that the stock was trading at $1,335.59 on Monday.
Collie's new goal implies nearly 20% of near-term upside in Chipotle stock. The shares would have to decline 17% from current levels to get to Ivankoe's new goal post. It's the best of times for the burrito roller, it's the worst of times for the burrito roller. Let's pull up a seat, peel off the tinfoil, and go in for a bite.
Source Fool.com
