Chipotle Mexican Grill is trading at $30.64, up 6.65%, as the positive sales outlook appears to outweigh near-term profit pressure.
- The October 28 report showed comparable sales rose 2.1%, exceeding expectations; management expressed confidence in fourth-quarter momentum.
- Revenue reached $3.29 billion, slightly above estimates. Earnings per share of $0.27 missed the expected $0.29, and restaurant-level margins contracted.
- Jefferies lowered its price target to $32 while maintaining Hold.