Piper Jaffray Backs Bull View On Chipotle Mexican (CMG) After Preannouncement

Piper Jaffray analyst, Nicole Miller Regan, reiterated her bull thesis on Chipotle Mexican Grill (NYSE: CMG) after the company preannounced weaker than expected 1Q results. She believes the company will be able to deliver a relatively steady improvement in same-store sales trends over the course of the year and leverage exists "when" (not "if") trends improve.

No change to Overweight rating or $590 price target based on ~20x FY17 EBITDA.

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 $503.00 yesterday.

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