#3 - Chipotle Mexican Grill (NYSE:CMG)
One of the biggest comeback stories in the market has been Chipotle Mexican Grill (NYSE:CMG). The company that practically invented the “fast casual” category was written off more than once by investors as it endured first a food safety scandal and then concern over a data breach.
But the company has rebounded from both issues and appears to be stronger than ever. As evidence of this strength, just look at what’s happened to CMG stock in 2020. The company’s stock dropped approximately 50% at the onset of the pandemic mitigation efforts. Since then, it has recovered all of that loss and is now up over 20% for the year.
Two of the keys to the company’s current success are what brought it back from its previous trials. The company has a strong digital presence. Customers had already become accustomed to ordering from the app and picking up at the restaurant prior to the pandemic.
This meant that the “learning curve” for customers was non-existent. All that was required was loyalty. And that appears to have remained.
And although no plans are firm, Chipotle CFO Jack Hartung says the company is well-positioned to expand as rent is likely to be cheaper throughout the country.
About Chipotle Mexican Grill
Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.
Read More - Current Price
- $56.38
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 18 Buy Ratings, 9 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $64.47 (14.4% Upside)
