Restaurant Industry Insights: Jefferies Analyst Adjusts Price Targets

Jefferies's Andy Barish raised their price target on Chipotle Mexican Grill (NYSE: CMG) by 14.9% from $2,350 to $2,700 on 2024/04/16. The analyst maintained their Hold rating on the stock.

In an earnings preview note for companies reporting Q1 2024 earnings through the week of 2024/04/29, the analyst provided insights into the restaurants industry. According to the analyst, recent industry data remains "somewhat choppy." However, they see opportunities for "modest upside" at Bloomin' Brands, BJ's Restaurants, Domino's Pizza, and McDonald's. On the other hand, Starbucks may miss Street's expectations, as cautioned by Barish.

The analyst also made several changes to price targets for other companies in their portfolio. Dominos Pizza Inc saw a 5.5% increase in its price target, from $455 to $480, while maintaining a Hold rating. Starbucks Corp, however, had its price target lowered by -6%, from $100 to $94, with a Hold rating being maintained. Texas Roadhouse Inc had its price target raised by 13.3%, from $120 to $136, with a Hold rating remaining in place. Similarly, Wingstop Inc saw its price target raised by 8.1%, from $310 to $335, while the analyst maintained a Hold rating.

Looking at Chipotle Mexican Grill (CMG), 68.4% of top-rated analysts currently rate it as a Strong Buy or Buy, while 31.6% view it as a Hold. No analysts recommend or strongly recommend selling the stock. The consensus forecast among analysts is that CMG's upcoming year will deliver earnings per share (EPS) of $53.87. If the analysts are correct, CMG's next yearly EPS will be up by 20.8% on a year-over-year basis.

CMG has shown significant growth in its stock price since its last quarterly report on 2023/12/31. The stock price has increased by 28.7% during this period and is up 65.8% on a year-over-year basis. CMG has outperformed the S&P 500, which has only seen a 21.7% increase.

Andy Barish, the Jefferies analyst, ranks in the top 19% out of 4,551 Wall Street analysts according to WallStreetZen. They have an impressive average return of 8.9% and a win rate of 52.4%. Barish specializes in the Consumer Defensive, Consumer Cyclical, and Communication Services sectors.

Chipotle Mexican Grill, Inc. is a fast-casual restaurant chain operating in the U.S. and internationally. Founded in 1993, the company's headquarters are located in Newport Beach, CA.

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