Chipotle upgraded to Buy at Loop Capital on ‘attractive’ opportunity

Loop Capital analyst Alton Stump upgraded Chipotle (CMG) to Buy from Neutral with a price target of $65, up from $58. There is the potential for at least 7.0%-8.0% upside to the current consensus EPS estimate of $1.30 for 2025 if comparable sales continue to beat expectations over the course of the current year, the analyst tells investors in a research note. Chipotle shares have pulled back nearly 10% since the firm’s prior report assessing “understandably choppy” comps in the current quarter due to unfavorable weather conditions , creating an attractive buying opportunity, Loop added.