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January 24, 2014
13:32 EDTCMGOppenheimer, Wedbush offer contrasting takes on Chipotle
Two research firms had very different outlooks on casual dining company Chipotle (CMG) in separate notes to investors issued earlier today. BULLISH TAKE: Chipotle can take many steps, including implementing price increases, to raise its revenue, Oppenheimer analyst Brian Bittner wrote. The company's comparable sales and margins can rise significantly and its momentum is strong, making its current valuation attractive, added the analyst. He initiated coverage of the stock with a $625 price target and Outperform rating. BEARISH TAKE: Less upbeat on Chipotle was Wedbush analyst Nick Satyan. He downgraded the stock, as he believes that the shares already reflect a high likelihood that the company will report stronger than expected results this year. Although Chipotle is poised to benefit from a price increase in the middle of this year and its new catering business, these factors are already "largely understood," wrote Satyan. He downgraded the shares to Neutral from Outperform and kept a $510 price target on the stock. WHAT'S NOTABLE: Chipotle is slated to report its fourth quarter results after the market closes on January 30. PRICE ACTION: In early afternoon trading, Chipotle fell $8.52, or 1.7%, to $494.93.
News For CMG From The Last 14 Days
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January 29, 2015
15:21 EDTCMGChipotle February volatility elevated into Q4 and outlook
Chipotle February weekly call option implied volatility is at 58, February is at 40, March is at 34, June is at 28; compared to its 26-week average of 27 according to Track Data, suggesting larger near term price movement into the expected release of Q4 results on February 3.
08:07 EDTCMGChipotle outlook remains positive, says Oppenheimer
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January 26, 2015
07:10 EDTCMGPiper Jaffray a buyer of Chipotle shares into earnings
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