Chipotle +2% as Raymond James upgrades, but Cowen still has sour view
Seeking Alpha
Published Jan 19, 2018 03:44PM ET
Chipotle +2% as Raymond James upgrades, but Cowen still has sour view
- Chipotle Mexican Grill (CMG +1.9%) is higher after Raymond James upgrades shares to Market Perform from Underperform, as the firm no longer sees downside risk to 2018 estimates, citing CMG's decision for a third round of menu price increases, along with stabilizing industry trends.
- Bernstein analysts reiterate their Outperform rating on CMG as part of a broader upbeat view of restaurants, which they think will benefit this year from lower corporate taxes and improving trends.
- However, the team at Cowen reiterates its Underperform rating on the stock, saying Facebook (NASDAQ:FB) check-ins suggest falling traffic trends toward trough levels seen at the start of the year.
- Now read: Chipotle Mexican Grill: A Bit Expensive For My Taste
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