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Chipotle’s New Health Scare Is Exactly Why You Should Buy Now
Last week, analysts at Barclays warned that a new queso dip menu item could indicate a sign of “desperation” at Chipotle
as a menu revamp could cause issues previously feared by management, such as greater complexity and slower service.
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Chipotle Mexican Grill Inc. (CMG) tumbled as much as 7.6% in intraday trading Tuesday, closing down 4% on news
that the firm had closed a restaurant in Sterling, Va., due to multiple reports of customers becoming sick after eating there.
Trading up about 0.4% on Wednesday afternoon at $376.43 per share, CMG has lost about half of its value over the past two
years, reflecting an approximate 9.5% decline in the most recent 12-month-period and a 0.2% decline year-to-date (YTD
As investors send shares of beaten-down food player plummeting further, analysts at Telsey Advisory
Group see a buying opportunity, upgrading Chipotle to outperform from market perform.
While analysts say investing in the troubled chain is “not for the faint of heart,” they are upbeat on
“more compelling menu innovation” after visiting its Chipotle Next Kitchen test store in New York.