Oppenheimer Remains Bullish on Chipotle Mexican Grill (CMG) Following 2Q15 Results

Oppenheimer reiterated an Outperform rating and $775.00 price target on Chipotle Mexican Grill (NYSE: CMG) following 2Q15. CMG reported EPS of $4.45, compared to $4.44 consensus. Comps of +4.3% were lower than sell-side's +5.8%.

Analyst Brian Bittner commented, "While 2Q comps were non-celebratory, traffic has accelerated into 3Q, a pleasing data point. This improves near-term visibility and extinguishes widespread fear of the difficult 3Q lap. Plus, margin outlook is getting better, comps set to reaccelerate (starting 4Q) and Street's '16E EPS (+18%) appears to be a conservative basecase. Cash on BS of ~$600M together with robust FCF and no debt is incrementally interesting. Reiterate Outperform and $775 price target."

For an analyst ratings summary and ratings history on Chipotle Mexican Grill click here. For more ratings news on Chipotle Mexican Grill click here.

Shares of Chipotle Mexican Grill closed at $673.07 yesterday.

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