Despite Chipotle (CMG) stock's recent 12.64% decline, Wall Street analysts generally give it a "buy" rating and anticipate up to 35% upside for the stock.
Chipotle stock has fallen 12.64% in the past week, opening at $32.44 on Monday, more than 26% below Wall Street's consensus price target of $44.32. Of the 33 analysts covering the stock, 24 have a "buy" rating, 9 have a "hold" rating, and none have a "sell" rating, with an overall consensus of "moderate buy." Analysts are optimistic about Chipotle's long-term store growth potential, improved operating efficiency, and its pricing power with a high-income customer base, despite the company's second-quarter revenue and EPS only slightly exceeding expectations, and management projecting comparable sales growth of just 1% for the third quarter.
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