Chipotle Gains as Analyst Calls It a 'Buying Opportunity' With Price Target Boost
Chipotle (NYSE:CMG) climbed more than 2% on Friday after Loop Capital's Alton Stump upgraded the stock from Neutral to Buy, calling it an "attractive buying opportunity."
Stump also raised his price target from $58 to $65, citing eight straight quarters of solid sales growth. He believes Chipotle could beat earnings estimates by 10 cents per share, thanks to its strong financial position.
Another big factor? Menu innovation. Chipotle's limited-time offerings have been a hit, and Stump expects its new honey chicken to boost sales this month.
Chipotle has kept its momentum going with smart menu updates and steady consumer demand, which has analysts feeling optimistic. As the company expands its digital presence and opens more locations, investors are watching closely to see if this growth streak continues.
This article first appeared on GuruFocus.
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