Back to top
Read MoreHide Full Article

On Thursday, everyone’s favorite burrito maker Chipotle Mexican Grill (CMG - Free Report) is gaining, up around 2.7% in afternoon trading after the stock was upgraded by Wedbush.

Wedbush analyst Nick Setyan has lifted his rating to a neutral from an underperform, and boosted its price target to $400 from $370. He believes that Chipotle hasn’t experienced the post-election rally that has blessed other stocks in the restaurant industry. Setyan also cited “a post-Q3 downward revision of 2017 Street expectations below our estimates” and a focus on improving margins.

Chipotle is struggling to recover from an E. coli outbreak that hit several of its restaurants back in 2015, and recently, CEO Steve Ells said many of the company’s restaurants were unclean and offered poor customer service, prompting a turnaround plan to help boost sales.

Over the past one year, CMG is down almost 15%, and currently holds a #5 (Strong Sell) on the Zacks Rank.

Long-Term Buys You Won't See in the News

The stocks you see in today's headlines may not be in the news tomorrow or next week. If you're looking for profitable long-term investments, you may be interested to see what Zacks Research is recommending to our private members. These moves have double and triple-digit profit potential. Starting now, you can look inside our stocks under $10, home run and value stock portfolios, plus more. Want a peek at this exclusive information? Click here>>

Zacks Restaurant Recommendations: In addition to dining at these special places, you can feast on their stock shares. A Zacks Special Report spotlights 5 recent IPOs to watch plus 2 stocks that offer immediate promise in a booming sector. Download it free »

In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

Chipotle Mexican Grill, Inc. (CMG) - free report >>

More from Zacks Stocks in the News

You May Like