While Chipotle’s (NYSE:CMG) 50-for-1 stock split, one of the biggest ever in recent times, is finally done and dusted, analysts’ love for the stock continues to pour in. Meanwhile, the company’s second-quarter results are fast approaching.
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Analysts Weigh in on Chipotle
Chipotle’s profitable growth has been rewarded by its shareholders with a massive 115% jump in the company’s share price over the past three years. Importantly, top analysts are eyeing further gains in the stock.
Today, Robert W. Baird’s David Tarantino reiterated a Buy rating on Chipotle while increasing the price target on the stock to $74 from $70. The analyst views Chipotle favorably owing to the company’s recent stock split and its business momentum. Bernstein’s Danilo Garguilo sees an even higher upside in Chipotle with an $80 price target. The analyst maintains a Buy rating on Chipotle.
A Key Event to Keep an Eye on
While the optimism around CMG’s stock split continues, the company’s second-quarter results are fast approaching. It is slated to report its Q2 numbers on July 24. Analysts expect the company to post an EPS of $0.31 on $2.93 billion in revenue for the quarter. In the comparable year-ago period, Chipotle generated an EPS of $0.25 on revenue of roughly $2.51 billion.
Meanwhile, Broadcom’s (NASDAQ:AVGO) 10-for-1 stock split on July 15 is another key event to keep an eye on for investors.
Is CMG Stock a Buy, Sell, or Hold?
Overall, the Street has a Moderate Buy consensus rating on Chipotle. The average CMG price target of $65.74, though, indicates the stock may be hovering at fair valuation levels at present.
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