Analyst Brian Harbour from Morgan Stanley maintained a Buy rating on Chipotle and keeping the price target at $65.00.
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Brian Harbour has given his Buy rating due to a combination of factors including the observed improvement in Chipotle’s exit rate, which supports a positive outlook for the second half of the year. Although the second quarter was weak, it was anticipated, and the company’s initiatives are expected to drive growth moving forward. Harbour remains optimistic about Chipotle’s ability to meet its targets for 2025 and 2026, despite some challenges.
Additionally, there is a focus on Chipotle’s marketing strategies and new initiatives, which are starting to show some impact according to high-frequency data. Harbour also notes that concerns from the first quarter have lessened, and there is ongoing debate about long-term growth drivers such as unit expansion and international potential. Overall, Harbour maintains a constructive view on Chipotle’s prospects, supporting his Buy rating.
In another report released yesterday, Gordon Haskett Capital Corporation also maintained a Buy rating on the stock with a $62.00 price target.
Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CMG in relation to earlier this year.