|Bid||500.10 x 1000|
|Ask||599.00 x 800|
|Day's Range||504.74 - 526.41|
|52 Week Range||247.52 - 526.41|
|PE Ratio (TTM)||87.15|
|Earnings Date||Oct 22, 2018 - Oct 26, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||461.57|
Chipotle (CMG) saw its stock price surge over 6.6% Wednesday to hit a new 52-week high after Morgan Stanley (MS) analysts upgraded the embattled fast casual powerhouse. The question is should investors buy Chipotle stock now?
The major indexes stumbled on growing concerns over trade tariffs, and the Nasdaq composite easily surrendered all of the prior session's gain. Apple is down but holding up fine.
China stocks, oil and metals led early declines as concerns over Turkey sent stocks lower Wednesday, tracking losses across global markets.
The upgrade to CMG stock takes it from a rating of “In Line” to its new rating of “Overweight.” At the same time, the research firm also updated its 12-month price target for the stock. For comparison, Chipotle Mexican Grill stock was sitting at $493.32 when the markets closed on Tuesday. Morgan Stanley says that there are a few reasons that it is taking such a bullish approach to Chipotle Mexican Grill stock.
Chipotle Mexican Grill Inc. shares have fully recovered from a downward spiral that started last summer and bottomed out in February, and Wall Street analysts are taking note. The average price target among analysts tracked by Bloomberg has risen 46 percent since mid-April, struggling to keep pace with the stock itself, which is trading at its highest since March 2016 after Morgan Stanley analyst John Glass earlier upgraded the popular Mexican restaurant chain to overweight from equal-weight. It was the latest in a string of nine upgrades to neutral or buy ratings since Chipotle hired Brian Niccol away from Taco Bell as its new chief executive officer in February.
Investors shouldn’t be scared away from shares of Chipotle Mexican Grill (CMG) just because the stock has popped this year with the company under new management, according to new research. While the exact details of the path to recovery will likely still take several quarters to unfold, the investor playbook is an old one and contains all of the familiar ingredients: new management with a proven track record, and the opportunity to apply basic marketing, product and digital innovation to a brand that has historically not leveraged these sales drivers.” Email David Marino-Nachison at firstname.lastname@example.org.
MARKET PULSE Chipotle Mexican Grill Inc. (cmg) shares rose 3.5% in Wednesday trading after it was upgraded to overweight from equal-weight at Morgan Stanley where analysts say Chipotle is "a classic, early stage turnaround story.