Chipotle Offers 'Actionable' Long Idea, Oppenheimer Says

MT Newswires Live07-13 23:05

Chipotle Mexican Grill (CMG) is offering an "actionable" long idea with an improving setup heading into Q2 earnings on July 29, Oppenheimer said in a note Monday.

The stock is entering the rear-view with an attractive opportunity after being stuck in a cycle of negative earnings revision for six straight quarters, the report said.

"We also identify a catalytic path to mid-single-digit SSS trends exiting 2026 amid better traffic traction, new tangible comp drivers, and more impactful pricing strategy," the note said.

For Q2, Chipotle is expected to deliver a "solid" all around beat, the note said, expecting the company to maintain a conservative stance on communicating full-year guidance.

Oppenheimer kept its outperform rating and $51 price target.

Price: 36.36, Change: +1.11, Percent Change: +3.15

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