Wall Street Turns Bullish On Chipotle Turnaround
  • 6 years ago
Investing.com - Fresh off an earnings beat, Chipotle's stock-price target was raised by half a dozen Wall Street firms.Stifel, JPMorgan Chase (NYSE:JPM), Wedbush Securities, Cowen & Company, SunTrust Robinson Humphrey and RBC Capital Markets all raised their 12-month forecasts, seeing better fundamentals at the company under new management.The restaurant chain reported better-than-expected earnings in its first quarter, thanks to new store openings, a surge in mobile orders and menu price hikes.Shares are up about 64% since Brian Niccol was named to replace founder Steve Ells as CEO in February, following a sharp two-year slump triggered by food safety concerns.