Is This Stock-Split Stock Going to $3,600? 1 Wall Street Analyst Thinks So.
Chipotle Mexican Grill (NYSE: CMG) has always been an outlier of a restaurant stock, a factor that was behind a recent price target increase from an analyst. According to him, the fast-casual chain operator, which is heading for the first stock split in its history and trades over $3,000 now, is deserving of a price tag approaching $4,000. Here's a brief look at this recent evaluation.
That boost clocked in at over 12%, as Evercore ISI's David Palmer upped his Chipotle target from $3,200 per share to $3,600. At the risk of stating the obvious, this is a pre-stock split price; that piece of financial engineering is subject to shareholder approval in a vote to be taken at the company's June annual meeting.
Like many recent changes in analyst evaluations, Palmer's modification came just after Chipotle unveiled quarterly results.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
With 57 Buy predictions and 1 Sell predictions Chipotle Mexican Grill Inc. is one of the favorites of our community.
As a result the target price of 3082 € shows a slightly positive potential of 4.3% compared to the current price of 2955.0 € for Chipotle Mexican Grill Inc..
