Down 33%, Is Chipotle a Buy Now?
Chipotle Mexican Grill (NYSE: CMG) has been one of the best-performing restaurant stocks of all time.
Since its 2006 IPO, the burrito roller is up more than 5,000%. However, the company is now facing what appears to be its biggest challenge since at least COVID, and possibly going back to its E. coli crisis.
Following the departure of star CEO Brian Niccol, who took the top job at Starbucks nearly a year ago, Chipotle has now reported two straight quarters of declining comparable sales. Though weakening consumer sentiment and discretionary spending are at least partly to blame for its struggles, the setbacks are bad enough that new CEO Scott Boatwright announced a multi-step plan to get the company back to growth after the stock fell 13% on Thursday, meaning it's now down 33% from its peak from late last year.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
The stock is one of the favorites of our community with 66 Buy predictions and 1 Sell predictions.
With a target price of 52 € there is a hugely positive potential of 69.08% for Chipotle Mexican Grill Inc. compared to the current price of 30.76 €.
