Bernstein analyst Danilo Gargiulo notes Chipotle (CMG) has been one of the fastest growing restaurant stocks in 2024. The firm sees further upside after dropping about 15% since its recent mid-December peak. Bernstein believes Chipotle benefits from structural tailwinds, and effective company strategies that will perpetuate in 2025. With the recent pullback, Chipotle’s valuation retracting at 45-turns represents an attractive entry point, fairly de-risked from temporary pullbacks that may occur, the firm argues. Bernstein has an Outperform rating on the shares with a price target of $70, and has named Chipotle as its Top Pick for 2025.
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