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Chipotle Mexican Grill stock could have a strong second half, according to BMO Capital Markets. Analyst Andrew Strelzik upgraded the fast casual restaurant stock to outperform from market perform in a Friday note, and raised its price target to $65 per share from $56. BMO’s forecast implies more than 21% upside from Thursday’s $53.54 close. The analyst said that Chipotle could be poised for a strong second half of the year after a slow start to the first half. Shares have pulled back more than 11% so far in 2025. CMG YTD mountain Chipotle Mexican Grill stock in 2025. “We believe CMG is well positioned for accelerating comp growth and improving margin trajectory beginning in 2H25, and view favorably its strong U.S. — heavy store growth that has room to accelerate towards 10% over time,” the analyst said. Chipotle’s comps, or sales growth at restaurants open at least a year, are already starting to accelerate, Strelzik said. He said he also expects Chipotle is well positioned in a scenario where the U.S. economy significantly slows. “We believe value remains best-in-class, supporting relative traffic outperformance in the event of a macro slowdown,” the analyst said. All of this should help propel Chipotle’s stock, according to the analyst. “We expect improving absolute performance and a widening gap to the industry to warrant a higher multiple,” he said.
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