U.S. Markets open in 4 hrs 14 mins

Why Did Chipotle Stock Price Rise ~4.0% on May 16?

Ralph Nathan
Why Did Chipotle Stock Price Rise ~4.0% on May 16?

On May 16, John Staszak of Argus upgraded Chipotle Mexican Grill (CMG) from “hold” to “buy.” He increased Chipotle’s target price to $540. Staszak is optimistic about Brian Niccol’s leadership and expects the company’s SSSG and earnings to accelerate in the coming years. The initiatives that were taken by Chipotle’s management, like implementing digital advancements, menu innovations, expanding the catering and delivery services, and various marketing and promotional offerings, are expected to drive the company’s sales.