Chipotle Mexican Grill, Inc (NYSE: CMG) published downbeat sales for the 3rd quarter on Wednesday.
Chipotle Mexican Grill reported quarterly revenues of 29 cents per share, in line with the expert agreement quote. Quarterly income was available in at $3 billion, which missed out on the expert agreement quote of $3.02 billion.
” While we continue to see relentless macroeconomic pressures, our remarkable worth proposal and brand name strength stay strong,” stated Scott Boatwright, CEO of Chipotle.
Chipotle shares fell 16.9% to $33.04 in pre-market trading.
These experts made modifications to their cost targets on Chipotle following revenues statement.
- TD Cowen expert Andrew M. Charles preserved Chipotle with a Buy and decreased the cost target from $45 to $40.
- BTIG expert Peter Saleh preserved the stock with a Buy and cut the cost target from $57 to $45.
- Mizuho expert Nick Setyan preserved Chipotle with a Neutral and decreased the cost target from $40 to $34.
Thinking about purchasing CMG stock? Here’s what experts believe:
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