Why Jim Cramer Is Doubling Down On Chipotle Mexican Grill Stock
Chipotle Mexican Grill Inc (NYSE: CMG) hit a new 52-week high after JPMorgan raised its price target and Raymond James upgraded the company Monday.
JPMorgan analyst John Ivankoe maintained Chipotle at Neutral and raised the price target from $1,350 to $1460.
Raymond James analyst Brian Vaccaro upgraded Chipotle from Market Perform to Outperform and announced an $1,800 price target.
On CNBC's "Squawk On The Street" Monday, Jim Cramer said he likes the Raymond James price target of $1,800.
Chipotle was able to make nearly as much money outside the store as it did inside the store before the COVID-19 pandemic, Cramer said.
Now, the inside of the store is going to open, he said.
"I think it's still a buy. I've liked these guys since $300 and I'm doubling down right here."
See also: Chipotle Offers Employees Free Degrees In Agriculture, Culinary And Hospitality Studies
CMG Price Action: Chipotle was up 1.46% to $1,553.02 at last check Monday.
Image by samuelfernandezrivera from Pixabay.
Latest Ratings for CMG
Apr 2021 | Wells Fargo | Maintains | Overweight | |
Apr 2021 | JP Morgan | Maintains | Neutral | |
Apr 2021 | Raymond James | Upgrades | Market Perform | Outperform |
View More Analyst Ratings for CMG
View the Latest Analyst Ratings
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